German inflation hits double digits for first time in euro era

By Jana Randow

29 Sep 2022 · 2 min read

Germany’s inflation is at its highest point since the inception of the euro well over two decades ago. Bloomberg reports that the government’s plan to cap gas prices may help ease the pressure.

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German inflation reached double digits for the first time since the euro was introduced more than 20 years ago, surging more than anticipated after temporary government-relief measures ended and Europe's energy crisis worsened.

Consumer prices jumped 10.9% from a year ago in September, topping August's 8.8% advance, the Federal Statistics Office said Thursday. That's more than the 10.2% economists in a Bloomberg survey had estimated.

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