German Inflation Hits 7.9 Percent in 2022, Highest in Over 70 Years

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German Inflation Hits 7.9 Percent in 2022, Highest in Over 70 Years

BERLIN—Germany has recorded its highest annual inflation in more than 70 years, according to preliminary data released Tuesday by the country’s Federal Statistical Office.
Surging energy and food prices due to Russia’s attack on Ukraine saw full-year inflation reach 7.9 percent in 2022. The last time annual inflation was near that level was in 1951, when it stood at 7.6 percent as the post-war economic boom began. Annual inflation in 2021 stood at 3.1 percent.
The preliminary data showed that inflation slowed somewhat in December, to 8.6 percent compared to the same month in the previous year, as one-off government payments to help consumers pay their heating and gas bills took effect. In October monthly inflation had reached a record 10.4 percent before dipping to 10 percent in November....

Source: German Inflation Hits 7.9 Percent in 2022, Highest in Over 70 Years

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