Annual inflation in Germany has reached 7.9%
GERMAN INFLATION NEARS 50-YEAR HIGH CONSUMER PRICES ARE SURGING IN EUROPE’S TOP ECONOMY. The German statistics office Destatis has reported another jump in inflation in May as food and energy prices continue to climb. Annual inflation in Europe’s top economy has reached 7.9%, the highest level since the 1973 oil crisis. The surge comes amid the conflict in Ukraine and the unprecedented sanctions imposed on Russia. Soaring energy prices have had a considerable impact on inflation since late February, when…
