{"id":16139,"date":"2023-01-05T11:06:23","date_gmt":"2023-01-05T11:06:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/germanys-2022-inflation-rate-the-worst-in-more-than-30-years-bitcoin-news\/"},"modified":"2023-01-05T11:06:23","modified_gmt":"2023-01-05T11:06:23","slug":"germanys-2022-inflation-rate-the-worst-in-more-than-30-years-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/germanys-2022-inflation-rate-the-worst-in-more-than-30-years-bitcoin-news\/","title":{"rendered":"Germany’s 2022 Inflation Rate the Worst in More Than 30 Years \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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In a year that was characterized by surging energy and food prices, Germany\u2019s average inflation rate in 2022 rose to 7.9% up from the 3.1% seen in 2021. Russia\u2019s invasion of Ukraine, as well as the supply bottlenecks resulting from the war, are said to be among the factors that helped to drive up prices. <\/strong><\/p>\n

Impact of the Ukraine-Russia War<\/h2>\n

In 2022, Germany\u2019s average inflation rate topped 7.9%, its highest since the 1990 reunification, the country\u2019s statistical office has said. As per the German press agency\u2019s Jan. 3 report, the 2022 rate is more than double the 3.1% seen in 2021.<\/p>\n

According to the report<\/a>, rising energy and food prices were among the main drivers of inflation for several months. As expected, the German Federal Statistical Office (FSO) reportedly identified Russia\u2019s invasion of Ukraine, as well as the ensuing supply bottlenecks, as two key factors that led to the record inflation rate.<\/p>\n

\u201cConsumers in Germany had to pay 24.4% more for energy in December than a year earlier. Food prices rose by 20.7% within a year,\u201d the agency\u2019s report explained.<\/p>\n

Germany\u2019s Monthly Inflation Slowing Down<\/h2>\n

Despite recording what has been described as the country\u2019s worst overall inflation rate since the 7.6% seen in 1951, the FSO data suggest that the monthly rate had dropped to 8.6% in December 2022. Before that, the rate had averaged 10.4% and 10%, in October and November, respectively.<\/p>\n

To minimize the impact of rising prices on the population, the German government is reportedly planning to pour out \u201cbillions in aid.\u201d It also aims to achieve this by using \u201cprice brakes for electricity and gas.\u201d According to the report, some economists are optimistic that such steps will help tame inflation in 2023.<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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