Inflation in Germany in May reached 7.9% in annual terms – such preliminary data for the month today, May 30, published Federal Statistical Office (Destatis). Thus, inflation was a record for almost 50 years – since the winter of 1973/74 – and accelerated compared to April, when consumer prices rose by 7.4%.
As before, first of all, energy prices are growing – they increased by 38.3% in May compared to the same period in 2021. The price of foodstuffs also increased significantly – by 11.1%. In general, prices for goods (including energy carriers) increased by 13.6%, for services – by 2.9%.
Federal Association of German Chambers of Commerce and Industry (DIHK) predictsthat by the end of 2022, inflation in the country as a whole will reach 7% – twice as high as DIHK expected in February.
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