Inflation in Germany set record high since 1974

In May, inflation in Germany reached its peak since the winter of 1974 to make 7.9 percent – as informed by the Federal Statistical Office, TASS reports

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Statistics meet the preliminary calculations. As reported, the figure made 7.4 percent in April.

“The inflation rate in united Germany shows its maximum for the third month in a row, and growing energy prices remain the main reason for the trend,” Georg Thiel, the President of the Federal Statistical Office, said, adding that Germans now face extremely high prices for food and other goods.

According to Mr. Thiel, the last time such a high level of inflation in the country was recorded in 1973-1974 – due to an oil crisis.