Germany's consumer price inflation crossed 5 percent in November, largely driven by a low base effect and higher energy and food prices, while prices decreased from the previous month due a seasonal slump in prices for package holidays, latest figures from the statistical office Destatis confirmed Friday. The consumer price index rose 5.2 percent year-on-year following a 4.5 percent increase in October. "The inflation rate increased for the sixth time in a row and in November reached the highest level recorded in 2021 so far," Destatis President Georg Thiel said.
"A higher inflation rate was last measured nearly 30 years ago. In June 1992 the inflation rate was 5.8 percent."
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