Germany is looking at a very cold and difficult winter this year.
Inflation in Germany is at its highest rate in more than a quarter of a century. Germany’s harmonised inflation rate compared to other European countries is at 11.6%.
Germany is planning for emergency cash deliveries to its citizens in case of winter power cuts, giving an example of how seriously authorities are taking the threat of outages caused by soaring energy costs.
And now Germany is also looking at a serious meat shortage in four to six months due to government regulations. Currently, 90% of the German population eats meat. The costs in the coming months will hit them hard, as will energy costs and the soaring inflation rate in the country.
RELATED: German inflation at highest level in over 25 years
German inflation was at its highest in more than a quarter of a century in September, driven by high energy prices, data showed, as analysts warned that the energy crisis has yet to make itself fully felt.
Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said. A Reuters poll of analysts predicted a rise of 10.0%.
By: Miss Cherry May Timbol – Independent Reporter