Inflation at 4.9 percent

Created: 02/11/2022, 09:17

A customer pays for his purchase at a stand at a weekly market with a five-euro note (staged scene).

© Moritz Frankenberg/dpa

No relaxation on the price front: According to the Federal Statistical Office, consumer prices in January 2022 increased by 4.9 percent compared to the same month last year

Wiesbaden - Another jump in energy prices kept inflation in Germany at a comparatively high level at the beginning of the year.

According to the Federal Statistical Office, consumer prices increased by 4.9 percent in January 2022 compared to the same month last year.

The Wiesbaden authority thus confirmed an initial estimate on Friday.

In December 2021, the inflation rate was 5.3 percent.

“Inflation eased somewhat in January after hitting its highest level in almost 30 years in December.

But it remains at a high level," said the President of the Federal Office, Georg Thiel.

Compared to December 2021, consumer prices increased by 0.4 percent.

Higher inflation weakens the purchasing power of consumers because they can buy less for one euro than before.

For some time now, inflation in Europe's largest economy has been fueled primarily by significantly higher energy prices.

At the beginning of the year, consumers had to pay 20.5 percent more for energy than a year earlier.

In particular, heating oil (plus 51.9 percent) and natural gas (plus 32.2 percent) cost significantly more.

Fuel has increased in price by 24.8 percent and electricity by 11.1 percent within a year.

Excluding energy, the inflation rate would have been 3.2 percent in January 2022.

more on the subject

Inflation in Germany in January at 4.9 percent

Inflation rate rises to 5.6 percent in Hesse in January

Inflation at over 3 percent - many in existential need

For the time being, many economists are not expecting any significant easing on the price front and are expecting an average of four to the decimal point for the current year.

dpa