In Germany, the Federal Statistical Office announced on Friday (December 10) that the consumer price index, in November had increased by 5.2% year on year. This is the highest level since June 1992.
The consumer price index rose for the sixth month in a row, mainly due to rising energy prices. These rose by 22.1%.
So the experts in the country are wrong again. The German Council of Economic Experts (GCEE) predicted that inflation would reach only 3.1% this year before easing to 2.6% next year. With inflation figures pushing above 5%, the pressure on the ECB and Madame Inflation is increasing.
In Denmark, the Danish Statistical Office reports that the consumer price index rose by 3.4% year-on-year in November. This is the highest level since October 2008.
The consumer price index was driven up mainly by an increase in energy prices. Electricity prices rose by 32.2%, reaching their highest level since June 1981.
Analysts expect Denmark to continue to face rising inflation. By now, rising energy prices and transport costs have increased the prices of products in general.