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Inflation in Germany rose 3.8 percent for the year to October as high prices continue to affect everyday costs.<\/p>\n
Ruth Brand, president of the Federal Statistical Office, said: “Consumers are still feeling the higher food and energy prices, which have risen during the extended period of war and crisis.”<\/p>\n
This is down from the September figure when inflation was at 4.5 percent with the reat of inflation now at its lowest level since August 2021.<\/p>\n
Ms Brand also said: “Currently, the price increase at consumer level is slowing down somewhat. The year-on-year rate of increase in food prices has continued to fall, and the prices of most energy products were even lower compared with the previous year.”<\/p>\n
Julian Jessop, economics fellow at the Institute of Economic Affairs, told Express.co.uk previously: “Even the Germans agree that Germany is the sick man of Europe! This has been a theme in the local press for many years.<\/p>\n
READ MORE <\/strong> Thousands of families to get \u00a3100 cost of living payment this month<\/strong><\/p>\n “There are many problems, but the three most important are a failed energy policy, excessive dependence on export-led manufacturing, and overreliance on cheap migrant workers.<\/p>\n “These have been cruelly exposed by Russia’s invasion of Ukraine, the slowdown in China, and the loss of many foreign staff who returned home during COVID-19 and have not returned.”<\/p>\n The latest figures from Destatis show energy product prices in Germany in October fell by 3.2 percent compared to a year ago.<\/p>\n Households energy prices increased by 0.1 percent compared to a year ago while costs for heating oil and natural gas fell 28.2 percent and 13 percent respectively. The price of electricity increased by 4.7 percent.<\/p>\n More to follow…<\/em><\/p>\n\n