“The inflation rate has reached a new high in a united Germany... The main reason for high inflation is still rising energy prices, but we are also seeing an increase in the prices of many other goods, especially food,” said Georg Thiel, head of Destatis.
He recalled that the last time the same high level of inflation in Germany was observed in the winter of 1973-1974 against the backdrop of a sharp jump in oil prices due to the first oil crisis.
Earlier it was reported that annual inflation in the United States accelerated to 8.6% in May, the highest since December 1981.
United States Secretary of the Treasury Janet Yellen admitted that the sanctions imposed against Russia lead to an increase in food and fuel prices in the American market.