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Germany's inflation to hit 40-yr high in April

Apr 29, 2022

Berlin [Germany], April 29:Germany's inflation is expected to rise to 7.4 percent in April, according to preliminary figures published by the Federal Statistical Office (Destatis) on Thursday.
"A similarly high inflation rate was last recorded in Germany in autumn 1981 when mineral oil prices had sharply increased, too, as a consequence of the first Gulf war between Iraq and Iran," Destatis noted.
Prices for food in Germany increased by 8.5 percent year-on-year, while energy prices including household energy and motor fuels continued to rise rapidly at 35.3 percent in April.
Since the start of the Russia-Ukraine conflict, energy prices rose significantly and had a "considerable impact on the high inflation rate," Destatis noted.
Source: Xinhua