Home News Inflation in Germany, the highest level in almost half a century. ...

Inflation in Germany, the highest level in almost half a century. As energy and food prices have risen

36
0

“Consumer prices, harmonized to be comparable with inflation data from other European Union countries, have risen by 8.7% year-on-year,” the Federal Bureau of Statistics announced on Monday, News.ro reports.

The last time inflation was as high in Germany was in the winter of 1973/1974, when oil prices rose as a result of the first oil crisis.

Inflation, which surpassed the 8.0% rate predicted by analysts in a Reuters poll, marks the second month in a row of record highs, after the 7.8% rise in April prices was the highest in the last four decades.

Read:   Russia getting closer to first major debt default in more than a century after failing to pay $ 1.9 million in interest

According to the office, Energy prices rose 38.3% from the same month last year, while food prices rose 11.1% above average.

Holger Schmieding, chief economist at Berenberg Bank, said there is still ongoing inflationary pressure on goods affected by supply and food blockages before the situation eases in the autumn.

If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below:

Previous articleThe rise in oil prices after the EU banned most imports from Russia. Analyst: “It is now moving towards the highs reached in March”
Next articleA ship loaded with laminated sheet has left the port of Mariupol for Russia. What the Ukrainian authorities are announcing