The German economy is in freefall: Inflation has reached its highest level in 18 years, with “worse to come.”

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The German economy is in free fall: Inflation has reached its highest level in 18 years, with ‘worse to come.’

According to new statistics released on Thursday, Germany’s inflation rate has reached its highest level since 1993.

Consumer prices increased by 3.1 percent on average in 2021 compared to 2020, according to the Federal Statistical Office.

Following years of low inflation, this is a significant change.

The price increase is due to a global increase in energy prices in 2021.

The effects of the energy price spike were felt in Europe’s largest economy, with household energy prices rising by over 22% in a year by November 2021.

Consumers will get less for their money as a result of these increases, according to economists, and the poorest will be the hardest hit.

Economists are not optimistic about the rate of inflation falling quickly.

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