The inflation in Germany skyrocketed in November until 5.2%, its highest year-on-year level since 1992, according to the still provisional figures released this Monday by the federal department of Statistics (Destatis).
The main cause of this price hike is the Energy, with a rise of 22.1% with respect to the same month of 2020. For its part, food became more expensive by 4.5%, while the services sector did so by 2.8% and housing rentals by 1.4%.
In October the interannual rate stood at 4.5%, while last September it was 4.1%.
In relation to the previous month, the rise in the consumer price index (CPI) was 0.2%, according to Destatis estimates, based on data from several of the 16 German federal states – “Länder” -.
Consumer prices, harmonized to make them comparable with inflation data for other European Union countries, rose 6.0% compared to November 2020 after an increase of 4.6% in October, according to the Federal Office for German statistics, and an increase of 9.3% compared to October. The reading is the highest rate recorded since January 1997, when the EU harmonized series began.
Destatis will release the final data on the evolution of the November CPI on December 10.
Financial assistance and raises
Some 3.5 million civil and public sector employees in Germany will receive a 2.8% salary increase and a bonus of 1,300 euros ($ 1,470) tax-free next year for COVID-19 pandemic assistance.
The agreement, announced Monday by the unions, further stipulates salary increases and compensation for some employees in the health sector and a tax-free bonus of 650 euros ($ 735) for interns and apprentices.
Unions initially they had asked for a 5% increase, due to the rise in the cost of living and the additional hardships suffered by its members due to the pandemic.
The agreement between the unions and the majority of the 16 states of Germany will be valid for two years. It arises after a series of strikes, particularly in the sector. It encompasses public hospitals, schools, police, firefighters and state employees in every state except Hesse, where a similar deal was struck last month.
(With information from EFE and AP)
Spain registered a year-on-year inflation of 5.6% in November, a record in 29 years