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Germany's inflation rate estimated at 8.6% in December 2022: Destatis

05 Jan '23
1 min read
Pic: Shutterstock
Pic: Shutterstock
The inflation rate for Germany is expected to be at 8.6 per cent in December 2022, compared to the corresponding period of the previous year, according to the provisional data by Federal Statistical Office (Destatis). Due to immediate assistance, the inflation rate in December is estimated to be significantly lower than in the previous months, with 10 per cent in November and 10.4 per cent in October.

Based on the results available so far, consumer prices are expected to decline by 0.8 per cent compared with November 2022. The annual average inflation rate is expected to stand at 7.9 per cent in 2022, as per Destatis.

Energy and food prices, in particular, increased considerably since the war started in Ukraine and had a substantial impact on the inflation rate. However, the federal one-off payment in December 2022 to cover the monthly instalment for gas and heat had a downward effect on prices.

ALCHEMPro News Desk (DP)
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