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Wiesbaden (dpa) - The increase in consumer prices in Germany slowed significantly in the Corona year 2020.
The annual average inflation rate was 0.5 percent, as the Federal Statistical Office announced.
The last time there was a lower rate was the global financial and economic crisis of 2009 (+0.3 percent).
Above all, the sharp fall in energy prices and the temporary VAT cut dampened consumer prices last year.
For comparison: the average inflation rate in 2019 was 1.4 percent.
In December consumer prices were 0.3 percent below the level of the same month last year.
Compared to November they rose by 0.5 percent.
The statisticians thus confirmed preliminary data.
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With the Corona crisis and the global economic slump, crude oil prices fell sharply on the world markets - this was reflected in lower energy prices.
From July to the end of 2020, lower VAT rates also applied in Germany.
With this, the federal government wanted to boost consumption as an important pillar of the economy in the Corona crisis.
© dpa-infocom, dpa: 210119-99-80757 / 3
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