Inflation in Germany: consumer prices are falling

0
5


Wiesbaden. Inflation in Germany stayed below zero for the fourth time in November. The Federal Statistical Office announced on Monday that consumer prices were 0.3 percent below the level of the same month last year, dampened by the reduction in VAT and the sharp fall in energy prices.

Crude oil prices plummeted

For October this year, consumer prices fell by 0.8 percent, according to the preliminary results. The Wiesbaden authority had already calculated a negative rate for October, September and July.

Continue reading after the ad

Since July, lower VAT rates have been in effect in Germany for half a year. The federal government wants to boost consumption in the Corona crisis.

However, retailers and service providers are free to decide whether and how they pass the relief on to consumers. In addition, with the Corona crisis, the prices for crude oil on the world markets collapsed, which is reflected in the sharp drop in energy prices.



Source link
https://www.rnd.de/wirtschaft/inflation-in-deutschland-verbraucherpreise-sinken-03-prozent-unter-dem-niveau-des-vorjahresmonats-G2M37644RXYXVMIKSNCP6IDSUU.html

LEAVE A REPLY

Please enter your comment!
Please enter your name here