German inflation in April hit its highest level in more than four decades. Driven by the prices of natural gas and mineral oil products that have been rising dramatically since Russia’s attack on Ukraine.
The Federal Statistics Office said that consumer prices rose 7.8 % Comparing to last year An increase from 7.6 % in March , inflation in the euro zone hit an unprecedented level in March .
A Reuters poll of analysts had indicated a German reading on an annual basis at 7.6 percent in April.
According to statistics office data, the last time inflation rates of such a rise were recorded in Germany was in the fall of 1981 due to the first Gulf War.