Consumer prices in Germany hit a record high in June 1992, confirming preliminary data, according to the statistical service Destatis.
Consumer prices rose 5.2% year-on-year in line with national standards, and 6% in line with EU harmonized standards, respectively.
The increase in inflation was mainly caused by the lower benchmark compared to 2020, the statistical service said.
In this context, the temporary reduction of VAT and the sharp fall in prices for fossil fuels also had an upward effect on overall inflation.
Additional factors were the introduction of carbon dioxide pricing in January and the effects of the pandemic, such as significant price increases during the economic recovery.
Consumer prices on a monthly basis decreased by 0.2% according to national standards and increased by 0.3% according to EU harmonized standards, also in line with estimates.
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Source From: Capital
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