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  • German inflation levels exceed 3% for first time since 2008

    07/29/2021 9:12:48 AM PDT · by Olog-hai · 7 replies
    Deutsche Welle ^ | 07.29.2021 | kmm/aw (AFP, dpa, Reuters)
    Inflation in Germany surged to 3.8% in July, compared to the same time last year, according to the country’s Federal Statistical Office on Thursday. This was the first time since August 2008 that the annual inflation rate in Europe’s largest economy rose to above 3%. On a month-on-month basis, prices rose by 0.9% from June to July. Destatis, the German name for the statistics institute, calculated the number based on a preliminary calculation. […] [E]nergy prices … have been rising faster than the general average for months now. In addition, consumers burning fossil fuels have had to pay €25 ($29.70)...