AP

German inflation dips slightly in November to 10%

Nov 29, 2022, 8:33 AM | Updated: 8:59 am

BERLIN (AP) — German inflation slipped back slightly to 10% in November, official figures showed Tuesday, but galloping prices remain a major headache for Europe’s biggest economy.

The annual inflation rate was off its peak of 10.4%, reached in October, as the increase in energy prices over a year ago slowed to 38.4% from 43% a month earlier, the Federal Statistical Office said. But there was no let-up in the increase of food prices, which ticked up to 21% from 20.3%.

The German economy grew 0.4% in the July-September period compared with the previous quarter thanks to consumer spending. But it is still expected to shrink in the current fourth quarter and the first three months of next year.

A separate report from the statistical office on Tuesday showed that real wages in Germany declined by 5.7% in the third quarter compared with a year earlier. It said the value of a 2.3% increase in nominal earnings was more than erased by an 8.4% rise in consumer prices. It was the fourth consecutive quarter in which real wages have declined.

Chancellor OIaf Scholz has sought to find ways with unions and employers to address the impact of rising prices while preventing an inflationary spiral.

In mid-November, Germany’s biggest industrial union agreed with employers on a pay deal that will see millions of workers get raises totaling 8.5% over two years as well as one-time payments meant to cushion the effect of inflation.

Scholz has been eager to promote such tax-free payments of up to 3,000 euros ($3,100), which help workers offset rising costs without pushing up nominal wages.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

American Airlines put an unspecified number of employees on leave for their involvement in an incid...

Associated Press

American Airlines CEO calls removal of Black passengers from Phoenix flight ‘unacceptable’

American Airlines put an unspecified number of employees on leave for their involvement in an incident in which several Black passengers were removed from a flight in Phoenix.

5 days ago

FILE - Crystal Baziel holds the Pan-African flag Monday, June 19, 2023, during Reedy Chapel A.M.E C...

Associated Press

The beginner’s guide to celebrating Juneteenth

For more than one-and-a-half centuries, the Juneteenth holiday has been sacred to many Black communities. It marks the day in 1865 enslaved people in Galveston, Texas found out they had been freed — after the end of the Civil War, and two years after President Abraham Lincoln’s Emancipation Proclamation. Since it was designated a federal […]

6 days ago

A Boeing 737 Max suffered damage to parts of the plane's structure after it went into a “Dutch ro...

Associated Press

Plane that did ‘Dutch roll’ on flight from Phoenix suffered structural damage, investigators say

A Boeing 737 Max suffered damage to parts of the plane's structure after it went into a “Dutch roll” during a flight from Phoenix last month.

11 days ago

This photo provided by Randy Shannon shows Mooney Falls on the Havasupai reservation outside the vi...

Associated Press

Dozens report illness after trips to waterfalls near Grand Canyon

Dozens of hikers say they fell ill during trips to a popular Arizona tourist destination that features towering blue-green waterfalls deep in a gorge neighboring Grand Canyon National Park.

12 days ago

Mugshot of Rudy Giuliani, who was processed Monday, June 10, 2024, in the Arizona fake electors cas...

Associated Press

Rudy Giuliani posts $10K cash bond after being processed in Arizona fake electors case

Rudy Giuliani, a former New York City mayor and Donald Trump attorney, was processed Monday in the Arizona fake electors case.

14 days ago

FILE - White House former chief of staff Mark Meadows speaks with reporters at the White House, Wed...

Associated Press

Former Trump chief of staff Mark Meadows pleads not guilty in Arizona fake elector case

Former Donald Trump presidential chief of staff Mark Meadows and Trump 2020 Election Day operations director Michael Roman pleaded not guilty Friday in Phoenix to nine felony charges for their roles in an effort to overturn Trump's Arizona election loss to Joe Biden.

18 days ago

Sponsored Articles

...

Midwestern University

Midwestern University Clinic visits boost student training & community health

Going to a Midwestern University Clinic can help make you feel good in more ways than one.

...

DESERT INSTITUTE FOR SPINE CARE

Desert Institute for Spine Care is the place for weekend warriors to fix their back pain

Spring has sprung and nothing is better than March in Arizona. The temperatures are perfect and with the beautiful weather, Arizona has become a hotbed for hikers, runners, golfers, pickleball players and all types of weekend warriors.

...

COLLINS COMFORT MASTERS

Here are 5 things Arizona residents need to know about their HVAC system

It's warming back up in the Valley, which means it's time to think about your air conditioning system's preparedness for summer.

German inflation dips slightly in November to 10%