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Economic news / Економічні новини

News of economy, energy, trade, finance / Новини економіки, енергетики, торгівлі, фінансів

Inflation in Germany broke the record of the last century

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Чер 14, 2022

Inflation in Germany rose from 7.4 to 7.9 percent in annual terms, which was the highest since 1974, and thus broke the record of the last century, writes TASS with reference to the Federal Statistical Office.

“Inflation in united Germany shows a maximum for the third month in a row. The main reason for high inflation is still rising energy prices,” said the head of the department, Georg Thiel.

Also, according to him, the reasons were the rise in prices for products and goods of some other categories, as well as the violation of supply chains due to a special operation in Ukraine. The previous time such a high rise in prices was the result of the fuel crisis in 1972, which erupted due to the embargo of Arab producers on supplies to Western countries.

Previously, record inflation rates for several decades were noted in the US (8.6 percent), the UK (nine percent) and the eurozone (8.1 percent).