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Inflation in Germany reached record 7,3%


Marec, 30 2022
watermark Economic news

According to a preliminary estimate by the German Federal Statistical Office (Destatis), annual inflation in the country accelerated from 5.1% in February to 7.3% in March.


A similar inflation rate was a record for the entire history of Destatis observations. Until that moment, the highest inflation rate was recorded in March-May 1992 – then the figure was 6.2%.


On a monthly basis, German consumer prices rose 2.5%. Analysts predicted annual inflation at 6.3%, and monthly – 1.6%.


At the same time, consumer prices in the country according to EU standards (harmonized consumer price index) accelerated growth over the year from 5.5% in February to 7.6% in March. And in March they grew from 0.9% to 2.5%. Analysts had expected figures at 6.7% and 1.8%, respectively.


At the same time, experts do not exclude the possibility that the rise in prices in Germany could reach 10% if the escalation of the conflict in Ukraine continues to gain momentum.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.