Similar high inflation rates in the former territory of the republic were last recorded in autumn 1981 when mineral oil prices had markedly increased as a result of the First Gulf War between Iraq and Iran.
Delivery bottlenecks and significant price increases at upstream stages in the economic process had an impact on the inflation rate. Price increases were recorded especially for energy products, but also for other goods and services, as a result of the current crises.
”In addition to the COVID-19 pandemic, the Russian war against Ukraine now also has a marked impact on the rate of price increase in Germany, especially for heating oil, motor fuels and natural gas as well as some food products”, said Destatis president Georg Thiel.
The prices of goods (total) rose by 12.3 per cent from March 2021 to March 2022. The prices of energy products rose sharply: in March 2022 they exceeded the level of the same month of the previous year by 39.5 per cent.
In addition to crisis-related effects, the increase in the carbon dioxide charge from 25 euros to 30 euros per tonne of carbon dioxide had an impact, Destatis added.
ALCHEMPro News Desk (DS)
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