Since Russia’s attack on Ukraine, the prices of natural gas and mineral oil products have markedly increased again and have had a considerable impact on the high rate of inflation.
The inflation rate in Germany is expected to be 7.3 per cent in March 2022 and consumer prices are expected to increase by 2.5 per cent on February 2022.
A similarly high inflation rate in Germany was last recorded in autumn 1981 when mineral oil prices had sharply increased, too, as a consequence of the first Gulf War.
Additional factors in February are delivery bottlenecks due to interruptions in supply chains caused by the COVID-19 pandemic and the marked increases in energy product prices at upstream stages in the economic process, Destatis noted.
ALCHEMPro News Desk (DS)
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