German inflation reaches 5.2% in November
ECB’s Schnabel says inflation will peak this month and will decline towards 2% target in 2022
Inflation in Germany increased year on year by 5.2% in November, according to the official statistical agency Destatis.
The agency said today (November 29) that energy prices remain the main factor boosting inflation in the eurozone’s largest economy. These increased by 22.1% year on year. In contrast, house rental prices rose by 1.4%, services by 2.8%, and food by 4.5%.
The European Central Bank’s goal for eurozone inflation is 2%. The latest figures are stirring intense debates in Germany
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