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In May consumer prices in Germany have risen so much since the early 1970s.
In May this year, goods and services in Germany cost on average 7.9 percent more than in the same period a year earlier. According to the Federal Statistical Office in April inflation rate was still 7.4 percent. So high was inflation for the last time in the winter of 1973/1974, when oil prices rose sharply as a result of the first oil crisis.
“Since the beginning of the war in Ukraine, especially energy prices have risen sharply and have a significant impact on high inflation,” say statisticians.
Compared to the same month last year, energy prices in May increased by 38.3 percent. Food prices also rose by about 11.1 percent. In addition, due to the coron pandemic, there are obstacles in the delivery of goods due to the interruption of supply chains, which makes many other goods more expensive./DW
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