business: Rising Inflation in Germany – but no need to worry
Frankfurt/BerlinThe Inflation in Germany climbed to the turn of the year, the highest level since July 2013. Especially, rising energy prices have ensured that Goods and services in December, costing an average of 1.7 percent more than a year ago, as the Federal Statistical office announced on Tuesday. Alone in North Rhine-Westphalia, the annual rate of inflation rose in December to 1.9 percent.
In November, was the annual inflation rate at 0.8 percent. About the year 2016 saw the price pressure, however, remained subdued, with an average of the consumer prices rose by 0.5 percent, after 0.3 percent in 2015.
For the current year are aiming for the Federal government and the economy have an inflation rate of 1.6 percent. It would be the highest since 2012. Economists expect the annual inflation in the Euro area increased in December to 1.0 from 0.6 percent. The data will be published on Wednesday.
The price of the drive is primarily attributable to increases in individual sectors, especially energy. In December, energy prices increased 2.5 percent, and for the first time in three years. In North Rhine-Westphalia, heating oil rose in price in December by a good 21% and fuel cost of 7.4 percent. The turnaround in the energy is shown when looking at the annual average prices: Here are the NRW citizens of 2016 for the areas 17 percent for heating oil and almost eight per cent at the pump.
decisions of the ECB on 10. March 2016
Since mid-2014, the lubricant of the world economy was mainly as a result of the Overproduction significantly cheaper. Shortly before Christmas, a Barrel (159 liters) of Oil in the North sea Brent crude oil was traded for well 54 dollars, in the summer of 2014, there were around 115 dollars. But it could be any sign of trend reversal, when the oil cartel Opec and other oil producing countries to make its announcement to reduce in 2017, the production to drive the price of “black Gold” to the top.
For the European Central Bank (ECB) is the rise in Inflation is good news. Because it strives for in the entire currency area stable prices, and this looks only at inflation rates of just under two per cent, guaranteed. Their boss, Mario Draghi, is holding on to the goal of two percent annual inflation. In March 2016, the Central Bank decided to ease key interest rates further – among other things, to allow Inflation to rise. There are no limits to what you’ll do, the Bank is within its mandate, to reach the target, Draghi said at the time.
can’t be a real success for the ECB chief, despite the slightly higher Inflation in Germany and other countries of the Euro-Zone (France, for instance, where Inflation is a new peak value has been reached). Because in the longer comparison, Inflation is still comparatively low.