Germany's inflation rate continued to rise in May, with consumer prices 7.9% higher than the same month in 2021, the Statistical Office announced, citing preliminary data.
Consumer prices have been on a sharp rise in Europe's biggest economy. In April, the country hit 7.4%, which was the highest level since since reunification in 1990, after logging 7.3% in March.
Higher inflation rates reduce the purchasing power of consumers. The German government has put together two packages worth billions of euros to offer relief to the public.
Analysts expect an average inflation rate of more than 6% in Europe's largest economy for 2022 as a whole. This would be the highest inflation since 1990.
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