Economic Buzz: Germany Inflation At Record High In May

14 Jun 2022 , 02:43 PM

Germany consumer price inflation accelerated to a new record high in May, as initially estimated, driven by higher energy prices, final data from Destatis showed. Consumer price inflation rose to 7.9 percent in May from 7.4 percent in April. Month-on-month, overall consumer prices rose 0.9 percent, in line with preliminary estimate, after climbing 0.8 percent in April. Another report from Destatis showed that wholesale price inflation moderated from a record high in May. Nonetheless, wholesale prices logged a strong double-digit growth of 22.9 percent annually after rising 23.8 percent in April.Powered by Commodity Insights