Annual inflation was at its highest level since autumn 1981 in Germany in March, according to final figures released by Destatis.
Consumer prices rose 7.3% year-on-year according to national measurements, respectively, and 7.6% according to European standards, also according to estimates.
Consumer prices rose 2.5% on a monthly basis by both national and European measurement standards.
The increase is mainly attributed to the increase in energy prices by 16.4% on a monthly basis.
Since the Russian invasion of Ukraine, the prices of gas, heating oil and motor fuels have risen significantly and have had a significant effect on high inflation.
Other factors leading to rising inflation include supply bottlenecks due to the pandemic and significant increases in energy prices as the economic recovery began.
Energy prices rose significantly, by 39.5% year-on-year in March, after rising 22.5% in February, while heating oil prices more than doubled to 144%.
Food prices rose 6.2% in March from March 2021. Consumers had to pay more for edible fats and oils as well as fresh vegetables.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
