Inflation acceleration recorded in Germany and Great Britain

The German statistical office published the definitive appraisal of the December inflation. About prices in the same month of 2020, it amounted to 5.3%, which is 0.1 percentage points higher than the inflation observed in November. Such a severe level has not been seen in Germany over the past 30 years. Every month, consumer prices rose 0.5% in December. The figures are in line with analysts’ projections. In the UK, consumer price growth accelerated in December by 0.3 percentage points compared to November at 5.4%. Every month, prices rose 0.5% in December after their 0.7% rise in November. Analysts taking part in the survey expected UK price growth to accelerate to 5.2% year on year. Concerning prices in November, inflation will be 0.3%. Despite the constant rise in inflation, European officials maintain to insist that this tendency is temporary.

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Arseny Kudrin

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