Monday, December 5, 2022

Inflation in Germany is rising and rising

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Inflation in Germany is scratching the eight percent mark. In May, inflation continued to rise from what might already be a record level: consumer prices were 7.9 percent higher than in the same month last year. This was announced by the Federal Statistical Office in Wiesbaden on Monday based on preliminary data.

This means that inflation in Germany has remained above the seven percent mark for the third month in a row. In March, the annual inflation rate jumped from 5.1 percent to 7.3 percent, in April the annual inflation rate was 7.4 percent. According to preliminary figures, prices rose by 0.9 percent from April to May 2022.

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