Germany's inflation to reach 7.6% in June 2022: Destatis

Energy prices have increased considerably since the war started in Ukraine and have had a considerable impact on the high inflation rate. In June 2022, energy prices rose by 38 per cent year on year, an increase which is comparable with those of the previous months. Food prices, too, increased above average (+12.7 per cent).

Marked price increases at the upstream stages in the economic process have an upward effect on prices. Another factor with an upward effect on prices is interruptions in supply chains caused by the COVID-19 pandemic, Destatis said in a press release.

ALCHEMPro News Desk (KD)