Inflation in Germany hit its highest level in nearly half a century in May, a result of rising energy and food prices since the start of the war in Ukraine.
Consumer prices, harmonized to make them comparable with inflation data from other EU countries, rose 8.7% year-on-year, the Federal Bureau of Statistics said on Monday.
The last time inflation was similarly high in Germany was during the winter of 1973 and 1974, when oil prices soared as a result of the first fuel crisis, the agency said.
The figure, which topped the 8.0% forecast by analysts in a Reuters poll, marks the second straight month of record highs, after the 7.8% increase in April was the biggest in four decades.
According to the agency, energy prices rose by 38.3% in May compared to the same month a year earlier, while food prices also rose at an above-average rate of 11.1%.
Holger Schmieding, chief economist at Berenberg Bank, said there was still some inflationary pressure to come, given goods hit by supply bottlenecks and food prices.
Source: CNN Brasil
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