Inflation is out of control in Germany. Their Producer Price Index chart looks like a hockey stick.
Good Morning from #Germany where #inflation pressure rising strongly again. PPI has accelerated to 45.8% in Aug YoY from 37.2% in Jul, highest price increase ever since start of statistic in 1949. Compared w/preceding mth PPI jumped by 7.9% in Aug, also the highest increase ever. pic.twitter.com/ljKbKYSSWy
— Holger Zschaepitz (@Schuldensuehner) September 20, 2022
Germany PPI in August hits an all time high of +45.8% YoY from +37.2% YoY last month. Consensus had PPI accelerating +37.1% YoY. pic.twitter.com/HXfuGAU6ZP
— Hedgeye (@Hedgeye) September 20, 2022
Reportedly these are the highest numbers since 1949. Much of this is due to the energy crisis. Their economy simply can’t function without an abundant supply of Russian energy. What’s happening now is proof of it.
Their politicians aren’t even trying to do anything substantive to improve the situation either. Everything they are doing is making the problem worse.
Looks like Germany could be facing a 1920s Weimar type situation. It’s hard to see any other outcome considering what is transpiring.
