German inflation nears 50-year high. Annual inflation in Eur | The Paradigm Shift Channel ⏳

German inflation nears 50-year high. Annual inflation in Europe’s top economy has reached 7.9%, the highest level since the 1973 oil crisis. Energy prices reportedly rose 38.3% in May year-on-year, while food prices posted an 11.1% leap.

Euro zone inflation came in at 8.1% for the month, up from April’s record high of 7.4%. French inflation also surpassed expectations in May to a notch record 5.8%, up from 5.4% in April, while harmonized Spanish consumer prices jumped by an annual 8.5% in May.