Inflation in Germany did in May reach a record level of 7.9% over one year, pushed by the war in Ukraine, which increases the prices of energy and food, according to the federal statistical institute Destatis .
Read alsoGermany: the Bundesbank lowers its growth forecasts, raises those on inflation
The rise in consumer prices thus reached its highest level since the reunification of Germany in 1990 for the third consecutive month.
“
The main reason for the high inflation remains the rise in the prices of energy products
” but price increases are also observed “
for many other goods, in particular food
”, explains Georg Thiel, president of Destatis, in a press release.
German Agriculture Minister Cem Özdemir expects food prices to continue rising until winter, he said in an interview with the
Rheinische Post
on Tuesday .
Trade is currently getting its supplies by paying high energy tariffs which will be passed on to prices,
Within energy products, fuel prices have increased by 41% over one year, notes Destatis.
While Berlin implemented a pump price rebate on June 1 that will cost it billions, accusations have since been leveled against oil companies that only partially pass on the measure to fuel prices.
Crying "
moral scandal
", German Economy Minister Robert Habeck announced Monday a reinforcement of the rules on competition.
The harmonized price index, which serves as a reference at European level, reached 8.7% over one year, Destatis confirmed again, i.e. above the average of 8.1% for the euro zone, according to Eurostat's first estimate.
Read alsoInflation: in Germany, an exceptional discount on fuel and public transport
The European Central Bank, determined to eventually bring inflation back to the target value of 2%, announced last Thursday a first rate hike in July, which it had not done since May 2011. The institution is also planning a “
series
” of rate hikes “
over the next few months
” depending on the inflation outlook, warned its president Christine Lagarde.