FeaturedWorldMoney & Business
Germany’s inflation rate increased over 4% in 28 years
Consumer prices in Germany rose by 4.1 percent in September compared to September 2020. The last time the figure passed the 4-per-cent threshold was in December 1993, when the rate was 4.3 per cent.
The withdrawal of a temporary VAT reduction, introduced to stimulate demand during the pandemic, is impacting the inflation figures. The previous higher rates have been in effect again since January 2021, so goods and services became more expensive.
Inflation rate of around 5 per cent is considered possible this year.