German inflation exceeds 4% for the first time in 24 years

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Germany’s inflation rate rose to its highest level in nearly 24 years, due to supply disruptions and the economy’s recovery from the pandemic crisis.

The German Federal Statistics Office said that the consumer price index rose 4.1% in September on an annual basis, compared to 3.4% last August.

This is the highest level since January 1997 when monitoring of data consistent with the European Union began.

Energy costs in Germany jumped by 14.3% last September on an annual basis, and the cost of food rose 4.9% in the same period.

Most of the major economies around the world are witnessing an acceleration of inflation in the past months with the recovery of demand and the reopening of the economy, in addition to the shortage of raw materials and supply disruptions.

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The article Inflation in Germany exceeds 4% for the first time in 24 years was written in the Borsa newspaper.