In view of rising energy prices, Commerzbank expects inflation to rise further in the coming months.

"If energy continues to rise, inflation could rise to five percent in November," said Commerzbank chief economist Jörg Krämer of the newspaper Bild.

Krämer sees some relaxation in the coming year.

"Inflation continues to rise before falling again after the turn of the year," said the economist.

Among other things, this is due to the fact that special factors such as the interim reduction in value-added tax will no longer apply.

Statisticians speak of a so-called base effect because the visual appearance of the prices also increased because the value added tax was raised to the original level.

Expensive energy lifted the rate of inflation in Germany in September for the first time in almost 28 years above the four percent mark.

Goods and services cost an average of 4.1 percent more than a year earlier, according to the Federal Statistical Office.

In this context, Krämer had already considered “a five to the decimal point” to be possible.

Association of municipalities calls for heating subsidies

The gas prices in the European markets had reached a new record level in the past few weeks, fueling concerns about a shortage in winter.

In view of the rising prices, the Association of Towns and Municipalities is demanding higher heating cost subsidies from the federal government for low-income households.

General manager Gerd Landsberg told the newspaper Bild: “We are seeing an explosion in energy prices, especially for gas.” Energy should not only be “something for the rich”.

"That is why the next federal government is called upon to support financially weak families in particular and to mitigate the explosion in heating costs."

Landsberg also warned of higher costs for the municipalities.

The sharp rise in gas prices would "hit many municipalities hard - through higher energy costs for buildings and higher heating cost subsidies for Hartz IV recipients".

According to Landsberg, the municipalities expect a budget deficit of between eight and 8.5 billion euros this year.

It could be similarly high next year.