Iran Press/ Europe: Russia's war with Ukraine and the West's escalation of the crisis, along with the United Nations' inability to resolve the conflict, have led to a sharp rise in world consumer prices as well as energy.
Germany’s annual rate of inflation has risen in May at a faster pace than in April, beating forecasts and posting the highest reading since December 1973, according to preliminary data released by German statistics office Destatis on Monday.
Consumer prices rose 7.9% on year measured by national standards, against the 7.5% forecast by economists in a Wall Street Journal poll. They rose 8.7% on year by European Union harmonized standards, above economists’ forecast of 8.1%.
A similarly high inflation rate in Germany was last recorded in the winter of 1973, when mineral oil prices increased as a result of the first oil crisis, the statistics office said.
Food prices also increased above average, posting a 11.1% on-year increase, Destatis said. 219
