Skip to content
  • Privacy Policy
  • About Us
  • Contact us
  • Policy Page
nynewsbash

nynewsbash.com

Your Daily News Potion

  • Entertainment
  • Biography
  • Finance
  • News
  • Games
  • Sports
  • K-Drama
  • Anime
  • Toggle search form
Why did Germany's Inflation rate go up to 7.9%?

Why did Germany’s Inflation rate go up to 7.9%?

Posted on September 14, 2022September 14, 2022 By Heena No Comments on Why did Germany’s Inflation rate go up to 7.9%?

As per the recent reports, the annual consumer inflation rate of Germany went up to 7.9% in August as compared to market forecasts. This was the highest Inflation Rate Germany has ever witnessed since reunification in the 1990s. This is due to the impact of the ongoing energy crisis and covid-19 supply chain shortage on households’ finances  Initially, the country’s analysts and economists made a market forecast that it will go up to 7.8 in August. However, it proved everybody wrong and made a higher leap this time.  

When this inflation rate was first read in July, it was estimated at 7.5% but took such a big leap in a single month. It may be due to the increase in the prices of energy products and food. Power rates rose 35.6% year-on-year in August, barely shorter than July’s 35.7%.

Household energy costs were up 46.4% as heating oil prices more than doubled with a 111.5% annual rise and natural gas prices climbed 83.8%.

 

Germany discovered a €65 billion ($64.7 billion) inflation relief package last week to enable households to cope with spiraling inflation and energy bills, the outcomes of Russia’s war on Ukraine, and the resulting penalties assessed on Moscow.

Why did Germany's Inflation rate go up to 7.9%?

The boost in food prices hastened for the sixth successive month with a 16.6% annual jump in August, as per the German statistical office Destatis.

Every month, Germany’s prospect prices index improved by 0.3% in August. 

 

Related Last Previous Unit Reference
Inflation Rate 7.90 7.50 percent Aug 2022
Inflation Rate MoM 0.30 0.90 percent Aug 2022
Harmonized Consumer Prices 119.50 119.00 points Aug 2022
Consumer Price Index CPI 118.80 118.40 points Aug 2022
Core Inflation Rate 3.18 3.21 percent Jul 2022
Core Consumer Prices 113.40 112.40 points Jul 2022
Producer Prices 156.30 148.40 points Jul 2022
Producer Prices Change 37.20 32.70 percent Jul 2022
Export Prices 126.00 123.50 points Jul 2022
Import Prices 142.90 140.90 points Jul 2022
Food Inflation 16.60 14.80 percent Aug 2022
Producer Price Inflation MoM 5.30 0.60 percent Jul 2022
CPI Transportation 119.30 120.60 points Aug 2022
CPI Housing Utilities 120.40 119.50 points Aug 2022
Wholesale Prices 136.30 136.80 points Jul 2022

 

George Thiel POV on the Disastrous Inflation Rate Situation?

“Two measures of the relief package had a slight downward effect on the overall inflation rate especially from June to August 2022: the 9-euro ticket and the fuel discount,” said Georg Thiel, president of Destatis.

 

Related

Finance Tags:germany inflation rate, Why did Germany's Inflation rate go up to 7.9%

Post navigation

Previous Post: Leonardo DiCaprio Dating Gigi Hadid?
Next Post: Sorry For Your Loss Season 3: Release date, Cast, Plot, and everything we know so far

Related Posts

Top 7 Richest YouTubers in 2022 Top 7 Richest YouTubers in 2022 Finance
highest paid CEO in 2022 Top 7 Highest paid CEO in 2022 America | Salary of CEOs in United States Biography
Best Stocks to buy right now with high profits.  18 Best Stocks to buy now Finance
Coinbase jumps 10% Coinbase jumps 10% after saying it has no exposure to bankrupt crypto firms Finance
Top 7 Richest Members in BTS: BTS Net Worth in 2022  Top 7 Richest Members in BTS: BTS Net Worth in 2022  Biography
The reason behind a mysterious trading surge in stocks like Berkshire Hathaway, The reason behind a mysterious trading surge in stocks like Berkshire Hathaway has been revealed Finance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • The Beast Must Die Season 2: Release date, Cast and Plot
  • Hacks season 3: Release date, Cast, Plot, Trailer, Spoilers, and more 
  • The Upshaws Season 3: Release date, Cast, Plot, Trailer, Spoilers, and more
  • We Are Lady Parts Season 2: Release date, Cast and Plot
  • Before We Die season 3: Release date, Cast, Plot, and Updates

Copyright © 2022 nynewsbash.com

Powered by PressBook Grid Blogs theme