The inflation rate in Germany has risen to its highest level since reunification in 1990. As the Federal Statistical Office announced on Wednesday, consumer prices in April were 7.4 percent higher than a year ago. It rose again compared to the already high inflation rate of 7.3 percent in March. The increase of 7.8 percent in the so-called “harmonized consumer price index” was even clearer.
According to the Federal Statistical Office, the price increase within one month was 0.8 percent. Above all, sharp rises in energy prices are driving inflation, and the war in Ukraine has intensified this trend. In April, energy prices rose by 35.3 percent compared to the same month last year. The prices for light heating oil almost doubled (plus 98.6 percent). Consumers also had to pay significantly more for petrol (plus 38.5 percent) and natural gas (plus 47.5 percent).
Food prices also increased at an above-average rate in April (plus 8.6 percent).
In the “old federal states” there was a similarly high rate in autumn 1981 as a result of the first Gulf War between Iraq and Iran.
According to economists, Germany must continue to adjust to high inflation rates. An inflation rate of more than 6 percent is forecast for the year as a whole. That would also be the highest inflation since German reunification.
more on the subject – The utility EWE will increase gas prices by 30 percent as of July 1st