German Inflation Highest Since 1992, with U.S. Inflation Highest Since 1982

According to figures of the Federal Statistics Office of Germany, November showed the highest inflation rate since November 1992, with 5.2% against November 2020. The major price driver was energy, at 22.1%; with gasoline at 43.2% compared to November 2020. Households’ energy budgets (gasoline, heating oil or gas, electricity) accounts for 10% of the private consumer basket, which implies that even those who make efforts to spend little will face an extra burden of several hundred euros for next year, at present inflation rates.