Producer price inflation in Germany rose at a record pace in | The Paradigm Shift Channel ⏳

Producer price inflation in Germany rose at a record pace in May, the fastest increase since the beginning of data collection in 1949. prices ballooned 33.6% year-on-year last month, following April’s 33.5% increase. On a monthly basis, producer prices gained 1.6% after growing 2.8% in April. Price increases continue to be driven primarily by soaring energy costs, which were up 87.1% from the previous year. The price of natural gas, which German industry relies on heavily, skyrocketed by 148.1%. As a result, memes of Weimar Germany hyperinflation are appearing on social media. (Photo)

German Economy Minister claims this is an economic attack by President Putin , to stir up fear. Concerns arise over future high interest burden on government debt. For 2024 interest payments on bonds is estimated at just under 25.2 billion euros.