German inflation back to nearly half-century high after falling | app

BERLIN (AP) — Germany’s annual inflation rate hit 7.9% in August, returning to its highest level in nearly half a century after falling in the previous two months, according to reports. official data

Inflation in Europe’s largest economy first hit 7.9% in May – the highest rate since the winter of 1973-74, when prices were fueled by an oil crisis – before falling back to 7.5% in July. The preliminary figure, which the Federal Statistical Office released on Tuesday, is generally unchanged in a final report about two weeks later.

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James R. Rhodes