The inflation rate in Germany reached 7.3% in March, the highest level since German reunification. This was announced by the Federal Statistical Office. In February, inflation was 5.5%. A rate of 6.8% was expected. To be weighed again and above all the energy item, which shows a price increase in Germany by 39.5% compared to March 2021. For food, the increase was 6.2%. This morning Spain released a figure of 9.8% for Marchthe highest in almost 40 years.
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First impact of the conflict on consumer prices. Spanish inflation jumps to 9.8%. Tomorrow the data from Germany and Italy
According to the Federal Statistical Office, “Since the attack on Ukraine, the prices for natural gas and petroleum products have risen sharply again and have a significant impact on the high inflation rate. A similarly high rate was recorded last time in the fall of 1981Even then, oil prices had risen sharply as a result of the first Gulf War. Additional price pressures are the delivery bottlenecks due to disruptions in supply chains caused by the Covid19 pandemic″. To help consumers and businesses last week The government has announced a second package Support worth approx 17 billion euros These include a temporary reduction in fuel prices, oneoff household allowances and subsidized public transport.
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