Record inflation in Germany, energy prices up 43 percent in a year

SARAJEVO, (Patria) - Germany's annual inflation rate rose to 10.4 percent in October, compared to 10 percent in September, official data released by Destatis showed.

The rate reached its highest level since the country's reunification, Destatis announced.

Energy prices continue to be the main reason for the price increases in the country, said Georg Thiel, head of Destatis. The monthly inflation rate also stood at 0.9 percent in October, Destatis added in its announcement.

Energy prices up 43 percent in a year

Despite relief measures, energy prices in Germany in November 2022 were 43 percent higher than in the same month of the previous year. Household energy prices rose particularly sharply, by 55 percent, natural gas prices more than doubled (an increase of 109.8 percent), and district heating prices rose by 35.6 percent. Heating with other energy sources also became more expensive: firewood, wood pellets, or other solid fuels doubled in price (108.1 percent).

Regarding electricity, Destatis reports it is 26 percent more expensive. The main reason for high energy prices overall is the sharp increase in international purchase prices, Destatis stated, as reported by Index.hr