German inflation hits 29-year high (CNN)

Vertex

MPA (400+ posts)
Inflation-Rate-e1623823664700.jpg

Inflation in Germany hit its highest level in nearly three decades last month, fueled by rising energy costs, supply chain bottlenecks and price hikes following the easing of pandemic lockdowns.

German consumer prices increased 4.1% in September compared with a year earlier, the country's federal statistics office said in a statement. The last time inflation stood above 4% in Europe's biggest economy was in June 1992, according to Carsten Brzeski, global head of macro research at ING.

Energy alone was 14% more expensive than last year, with food prices rising nearly 5%. Other drivers of inflation include changes to German sales taxes following the pandemic and price mark-ups in leisure and hospitality following lockdowns.

The picture is similar across Europe. Annual inflation across the 19 countries that use the euro hit 3.4% in September, up from 3% in August and the highest level since 2008, according to a flash estimate published on Friday by Eurostat.

The EU statistics office estimates that annual energy prices increased by more than 17% in September, compared with 15.4% in August. Prices for food and services have also risen.
While some of these price pressures will be short-lived, businesses in manufacturing and services expect to pass on higher costs to consumers, Brzeski said in a research note on Friday. Worker shortages are also having an impact.
"The second pass-through channel will be wages. The mismatch in the labor market between the lack of skilled workers and still high unemployment rates as well as a [regionalization] of production as a result of supply chain frictions could give rise to higher wages," he added.

Other economists also think that inflation in Europe could prove persistent, particularly given higher gas and electricity prices heading into winter and as supply chains remain constrained.

"Further increases in inflation seem a near certainty," Jack Allen-Reynolds, senior Europe economist at Capital Economics said in a note on Friday. "We now think that the headline [eurozone] rate will reach 4% by November," he added.
That could prompt the European Central Bank to announce at its December meeting that it will bring an end to pandemic stimulus measures in March, Allen-Reynolds said.
Central banks are being forced to confront persistently higher inflation at a time when economic growth is slowing down, leading to some concerns of an increased risk of stagflation, a toxic combination of stubbornly high inflation and weak economic growth.



 
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mughals

Chief Minister (5k+ posts)
merkel finished the country. 20 years ago Germans were considered and accepted as great people. Now people puke on them and the common german has become a beggar
 

Rio

Councller (250+ posts)
merkel finished the country. 20 years ago Germans were considered and accepted as great people. Now people puke on them and the common german has become a beggar

ہاہا یہاں ہر کوئی ہی عالمی معاملات میں ارسطو بنا ہوتا ہے.
سر تھوڑی رہنمائی فرمائیں آپ نے کونسے پیمانے پر جرمن قوم کو جانچا ہے؟ بیس سال پہلے جرمنی میں کیا اور اب کیا ہے؟ اقتصادی طور پر کیا تبدیلیاں آئیں ہیں؟ اور کس پیمانے پر جرمن قوم اب فقیر بن گئی ہے ؟
 

mughals

Chief Minister (5k+ posts)

ہاہا یہاں ہر کوئی ہی عالمی معاملات میں ارسطو بنا ہوتا ہے.
سر تھوڑی رہنمائی فرمائیں آپ نے کونسے پیمانے پر جرمن قوم کو جانچا ہے؟ بیس سال پہلے جرمنی میں کیا اور اب کیا ہے؟ اقتصادی طور پر کیا تبدیلیاں آئیں ہیں؟ اور کس پیمانے پر جرمن قوم اب فقیر بن گئی ہے ؟
lol I found it on the streets there. ab kya address bhi batadoon. pechaly 30 saloon kay
 

kayawish

Chief Minister (5k+ posts)
i also live in germany near Düsseldorf and i dont see any inflation.just house rents are going higher but not food prices.
 

pinionated

Minister (2k+ posts)
what will hitler do ? Germany already lost too much land to france and Poland because of that looser Hitler.If you cannot win war you must not start War.
Hitler didn’t do anything good for Germany or for the world for that matter, but he did use humiliation of Germans to get elected (yes, he was elected)
 

imran_hosein_fan

Minister (2k+ posts)
what will hitler do ? Germany already lost too much land to france and Poland because of that looser Hitler.If you cannot win war you must not start War.
Kahan se shopping kertay ho jahan per rate nahe barhay?? Hamein bhi bata do hum bhi wahan chalay jaye karein ge!!!???
 

hkniazi

Minister (2k+ posts)
merkel finished the country. 20 years ago Germans were considered and accepted as great people. Now people puke on them and the common german has become a beggar
Naah, she ain'T that bad.
who did you vote for, AFD?
for the friends who need little know how, AFD is like PTM of Germany.
Merkel was good, but her party successor is an "nawaz-hole"
Maybe that is the reason people didnt go for her party anymore.
 

Citizen X

President (40k+ posts)
Inflation-Rate-e1623823664700.jpg

Inflation in Germany hit its highest level in nearly three decades last month, fueled by rising energy costs, supply chain bottlenecks and price hikes following the easing of pandemic lockdowns.

German consumer prices increased 4.1% in September compared with a year earlier, the country's federal statistics office said in a statement. The last time inflation stood above 4% in Europe's biggest economy was in June 1992, according to Carsten Brzeski, global head of macro research at ING.

Energy alone was 14% more expensive than last year, with food prices rising nearly 5%. Other drivers of inflation include changes to German sales taxes following the pandemic and price mark-ups in leisure and hospitality following lockdowns.

The picture is similar across Europe. Annual inflation across the 19 countries that use the euro hit 3.4% in September, up from 3% in August and the highest level since 2008, according to a flash estimate published on Friday by Eurostat.

The EU statistics office estimates that annual energy prices increased by more than 17% in September, compared with 15.4% in August. Prices for food and services have also risen.
While some of these price pressures will be short-lived, businesses in manufacturing and services expect to pass on higher costs to consumers, Brzeski said in a research note on Friday. Worker shortages are also having an impact.
"The second pass-through channel will be wages. The mismatch in the labor market between the lack of skilled workers and still high unemployment rates as well as a [regionalization] of production as a result of supply chain frictions could give rise to higher wages," he added.

Other economists also think that inflation in Europe could prove persistent, particularly given higher gas and electricity prices heading into winter and as supply chains remain constrained.

"Further increases in inflation seem a near certainty," Jack Allen-Reynolds, senior Europe economist at Capital Economics said in a note on Friday. "We now think that the headline [eurozone] rate will reach 4% by November," he added.
That could prompt the European Central Bank to announce at its December meeting that it will bring an end to pandemic stimulus measures in March, Allen-Reynolds said.
Central banks are being forced to confront persistently higher inflation at a time when economic growth is slowing down, leading to some concerns of an increased risk of stagflation, a toxic combination of stubbornly high inflation and weak economic growth.



Berda ghark ho niazi ka, Germany mein bhi itni menghai kerdi.
 

pak_moderator

MPA (400+ posts)
merkel finished the country. 20 years ago Germans were considered and accepted as great people. Now people puke on them and the common german has become a beggar
the people asyler who r living there could they get any relief for strict immigrtion laws from new elected govt ?
 

kayawish

Chief Minister (5k+ posts)
the people asyler who r living there could they get any relief for strict immigrtion laws from new elected govt ?
refugees i dont know but SPD said they will make easier for immigrants to get German nationality.Now illegal refugees may be not in this case ... but i and my wife both voted for SPD.