Germany's inflation rate at highest in almost 30 years

By Ovunc Kutlu

ANKARA (AA) - The annual inflation rate in Germany stood at 5.2% in November, its highest since June 1992, according to data released Friday by the Federal Statistical Office, Destatis.

"The inflation rate increased for the sixth time in a row and in November reached the highest level recorded in 2021 so far," Georg Thiel, the president of the Federal Statistical Office, said in a statement.

Destatis said the main reasons for high inflation rates include base effects due to low prices in 2020, delivery bottlenecks, and marked price increases at upstream stages in the economic process.

The 22.1% rise in energy product prices was markedly higher than overall inflation, it noted.