Wed, 29 Jun 2022

BERLIN, May 11 (Xinhua) -- Germany's inflation rate in April rose to 7.4 percent amid soaring energy prices, according to confirmed figures published by the Federal Statistical Office (Destatis) on Wednesday.

"The inflation rate reached an all-time high for the second month in a row since German reunification," said Georg Thiel, president of Destatis.

A similarly high inflation rate was last recorded in Germany in autumn 1981 when mineral oil prices had sharply increased as a consequence of the war between Iraq and Iran.

Prices of heating oil in April nearly doubled year-on-year, according to Destatis. Marked price increases were also recorded for motor fuels and natural gas, up 38.5 and 47.5 percent respectively.

The development of energy prices since the start of the Russia-Ukraine conflict had a "substantial impact on the inflation rate," Destatis noted.

Food prices also picked up and rose by 8.6 percent year-on-year, accelerating significantly from an increase of 6.2 percent in the previous month, according to Destatis. Prices for edible fats and oils rose particularly sharply at 27.3 percent.

For 2022, the German government expects an inflation rate of 6.1 percent as the sharp rise in oil, coal and gas prices was consequently driving up consumer prices. Inflation is expected to return to near-normal levels next year.

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