Inflation in Germany is at the highest level in the last 29 years

According to the data of the German Federal Statistical Office (Destatis), annual inflation in Germany, which was 4.5 percent last month, rose to 5.2 percent in November with the effect of energy prices and the epidemic, reaching the highest level in the last 29 years.

ANNUAL INFLATION EXCEEDED MARKET EXPECTATIONS IN NOVEMBER
Accordingly, annual inflation, which was 4.5 percent in October, was 5.2 percent in November, exceeding market expectations. This was recorded as the highest inflation rate since June 1992.

Experts say that the annual inflation in the country remains high; It is stated that the end of VAT discounts, supply bottlenecks, and the increase in raw material and energy prices are effective.

In Germany, inflation in November decreased by 0.2 percent on a monthly basis.

ENERGY PRICES INCREASED
It is noteworthy that energy prices increased by 22.1 percent on an annual basis, while the annual increase was 4.5 percent in food prices and 2.8 percent in services.

EXPECTED TO REACH 6 PERCENT LEVELS BY THE END OF THE YEAR
Analysts expect inflation in Germany to reach 6 percent by the end of the year.