Annual inflation in Germany rose further in April, climbing to its highest level since 1981, according to data released today by the German statistical service Destatis.
Consumer prices rose 7.4% year on year, as Destatis announced, confirming the initial measurement. Based on the harmonized measurement of the EU prices increased by 7.8%.
Since the Russian invasion of Ukraine, the prices of gas and fossil fuels have risen significantly, with a major impact on inflation, Destatis reports.
Similar inflation rates in Germany were last recorded in 1981, when oil prices soared as a result of the Iran-Iraq war, the statistics agency said.
From the previous month the prices increased by 0.8% based on the national standards and 0.7% based on the harmonized ones.
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.
