Skyrocketing Inflation , in Germany Reaches , Highest Point Since 1951.
According to data published on January 3,
inflation in Germany has reached its
highest point in over seven decades.
Fox News reports that Germany's
Federal Statistical Office showed prices
for energy and food jumped 7.9% in 2022. .
In 1951, annual inflation
in Germany was at 7.6%.
In October of 2022, Germany saw
inflation skyrocket 10.4%, followed
by another 10% increase in November.
In December, the German government began sending out payments to help with household energy bills, and inflation eased slightly to 8.6%.
However, in December,
energy prices were 24.4% higher
compared to the same month in 2021.
Food prices over the same period
had climbed 20.7%, according to data
provided by the statistical office.
Meanwhile, 2022 saw Germany's
unemployment edge lower
to reach 2.42 million. .
In response to rising inflation,
unions have demanded pay increases to offset
the skyrocketing costs of consumer goods.
Fox News reports that Russia's war in Ukraine
has not only impacted gas supply lines in Europe,
but also dramatically affected food prices. .
Fox News reports that Russia's war in Ukraine
has not only impacted gas supply lines in Europe,
but also dramatically affected food prices.