German Inflation is at the highest for 70 years

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It hit 10.4% in the year to October 2022, the highest rate since 1951. Here is the chart:

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Their previous peak was 1974 when it hit 6.48%.

Why was German inflation so low in the 1970's and 1980's compared to the rest of the world?

Because the old Bundesbank had learned the harsh lessons of the Weimar Republic. They raised rates early in the 1970's, sending Germany into a mild recession, but crucially breaking the back of inflation. Other countries allowed inflation to get out of hand, which then required much harsher medicine in the early 80's to bring it under control.

Germany gave up it's prized Deutschmark in 1999 and adopted the euro.

As a result they've got higher inflation than the UK (10.1%) or the USA (7.7%), something that hasn't happened since 1951 when Attlee was Prime Minister of the UK and Truman was President of the USA.

German Inflation is at the highest for 70 years | Ecency