Inflation in Germany reaches 70-year high

Inflation in Germany has come close to 11 per cent for the first time in 70 years.

The announcement came in the latest report of the German Federal Statistical Office.

“The resumption of inflation growth in Germany indicates the end of support measures from the German government and the worsening of the energy crisis in the EU [European Union]. The inflation rate has reached 10.9 per cent,” the report noted.

Experts agreed that the German economy had not experienced this kind of inflation since 1951.

The publication also indicated that inflation was influenced by energy prices, which rose by 43.9 per cent in September compared to the same period last year. The second place was occupied by the growth of food prices, which was confirmed to be at 1.9 per cent.