Inflation in Germany hit a record high of 8.8 percent in August due to soaring energy prices, adding further pressure on the European Central Bank (ECB) to massively increase interest rates at its next meeting.
Germany, the European Union’s largest economy, hasn’t had inflation rates this high since the winter of 1973–74, when global prices were fueled by the 1973 oil crisis.
Food and energy prices have been the primary driver of inflation, due in large part to the war in Ukraine. Energy prices in Germany were up 35.6 percent in August compared to the same time in 2021, and food prices were up 16.6 percent….
Germany, the European Union’s largest economy, hasn’t had inflation rates this high since the winter of 1973–74, when global prices were fueled by the 1973 oil crisis.
Food and energy prices have been the primary driver of inflation, due in large part to the war in Ukraine. Energy prices in Germany were up 35.6 percent in August compared to the same time in 2021, and food prices were up 16.6 percent….
Related posts:
Displaced Christians Return to Home Villages in Central India
Long-Lost Legendary Theater of Nero Finally Excavated in Central Rome
Futures Dip as Oil Rally Fuels Inflation Worries
Dawabsha, 4, to visit Real Madrid FT Club
Pig's head, bowels found on 9 stakes at site of future mosque in Germany
1,600-Year-Old Mosaic Pavement Unearthed in Central Israel to Be Placed on Display
Views: 0