(THE CONSERVATIVE TREEHOUSE) – The German government released their version of the producer price index for inflation, and they are reporting 30.9% inflation for products leaving German factories. That’s the highest rate of inflation since shortly after the second world war.
The inflation rate is being driven mostly by energy costs which are more than 80% higher than last year. However, each nation’s overall inflation rate is also driven by the amount of central bank spending they used during the COVID economic lockdowns. The more any government spent on subsidies, the more money they printed, the more they devalued their money and subsequently, the higher their current rate of inflation.
Germany is the largest economy in the European Union. This level of inflation within Germany has major ramifications.
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