logo |

News

    Home   >     Industry    >     Main body

    German Inflation Rose at Fastest Pace in Almost 30 Years in 2021

    Abstract:The temporary reduction in the value added tax and the sharp decline in mineral-oil product prices also had an upward effect on the overall inflation rate.
    20210511163517162072211779578.png

      German consumer prices rose strongly in 2021, posting their highest annual reading since 1993, statistics office Destatis said Wednesday.

      Consumer prices in Germany rose 3.1% on average in 2021 compared with 2020. The inflation rate in the previous year was 0.5%.

      The increase in the inflation rate was caused mainly by base effects due to lower prices in 2020, Georg Thiel, president of the federal statistical office, said. In this context, the temporary reduction in the value added tax and the sharp decline in mineral-oil product prices also had an upward effect on the overall inflation rate, Mr. Thiel said.

      “In addition to the temporary base effects of the past, there are more and more crisis-related effects such as delivery bottlenecks and marked price increases at upstream stages in the economic process,” Mr. Thiel said.

      In December, consumer prices rose 5.3% on year measured by national standards, reaching its highest level in 2021 at the end of the year, in line with forecast by economists polled by The Wall Street Journal. They rose 5.7% on year by European Union-harmonized standards, also in line with forecasts.

      Consumer prices rose 0.5% on month by national standards and 0.3% by EU-harmonized standards, both in line with forecasts.

      For more Forex news, please download WikiFX- the Global Forex Regulatory Inquiry APP.

    Read more

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.