Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Witkoff: 'That is the only way we can close a 60-day ceasefire deal in the coming days in which half of the living hostages and half of those who are deceased will come home to their families'
Witkoff: 'Hamas should accept the framework proposal we put forward as the basis for proximity talks, which we can begin immediately this coming week'
Witkoff calls Hamas response 'totally unacceptable'
Israeli PM says 'Israel will continue its action in Gaza for the return of hostages and defeat of Hamas'
Israeli PM says Hamas is continuing its refusal of Witkoff proposal for Gaza
Received document: Cessation of military operations by both sides for a long-term period of 5-7 years, guaranteed by mediators
Received document: An independent committee of technocrats will begin managing all the affairs of the Gaza Strip immediately upon the implementation of this agreement, with full powers and duties
Received document: A ceasefire will be declared and Israeli forces will fully withdraw after an agreement is reached to exchange the remaining captives and bodies
Received document: The negotiations will focus on the terms of exchanging all remaining Israeli captives in exchange for an agreed-upon number of Palestinian prisoners
Received document: On the first day, indirect negotiations will begin under the auspices of the mediators with the aim of guaranteeing a permanent ceasefire

Germany witnesses highest inflation rates since 1973

  • By Al Mayadeen English
  • Source: Agencies
  • 31 May 2022 08:53
  • 1 Shares
2 Min Read

As Germany continues imposing sanctions on Russian energy sources, it continues to witness an upward effect in prices and inflation as it nears a 50-years high.

  • x
  • German Bundestag
    German Bundestag

German statistics office Destatis reported another hike in food and energy prices as inflation continues. Europe’s top economy, Germany, has reached 7.9%, the highest level since the 1973 oil crisis.

The surge came as the Ukraine war resulted in the collective-West imposing unprecedented sanction packages on Russia. The sanctions imposed on oil and gas hit Europe the hardest and consequently impacted inflation rates the most since late February said Destatis.

The agencies also pointed out that “another factor with an upward effect on prices” is the Covid-19 pandemic and all the supply chain interruptions it had caused throughout a period of two years. 

Related News

EU military spending hits critical economic limit, Russia warns

Trump signals new US tariffs, warns trading partners of imminent hikes

In a year-on-year comparison, energy prices had reportedly risen by 38.3% in May, while food prices displayed an 11.1% leap.

By national standards, consumer prices in May increased by 0.9% and 1.1% by EU-harmonized standards, according to the data. Destatis is expected to publish its final results for the month on June 14th.

Back in March, calculations by the German Institute for Economic Research (DIW) in Berlin showed that if the German economy regularly adjusted to no longer rely on Russia for oil and gas, the corresponding restructuring would require up to a decade. The repercussions will also reflect on the volume of economic production in the country, as it will decrease by 3% within 18 months, data showed.

Later in April, Deputy CEO of Deutsche Bank, Karl von Rohr, Germany’s inflation rate could reach 10% if energy imports are limited.

  • Germany
  • European Union
  • inflation
  • economy
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

US judges quietly consider private security amid Trump tensions

US judges quietly consider private security amid Trump pressures

  • US & Canada
  • 25 May 2025
President Donald Trump and Israeli Prime Minister Benjamin Netanyahu arrive to a news conference in the East Room of the White House, Tuesday, Feb. 4, 2025, in Washington (AP)

Rift widens: Trump, Netanyahu clash in heated phone call over Iran

  • Politics
  • 26 May 2025
An Israeli army vehicle moves in the Gaza Strip as seen from southern occupied Palestine, Thursday, May 29, 2025 (AP)

Hamas rejects Witkoff ceasefire plan, says alters terms

  • Politics
  • 29 May 2025
Spokesperson for the Yemeni Armed Forces, Brigadier General Yahya Saree, announces a new operation against Ben Gurion Airport on May 29, 2025 (Yemeni Military Media)

Yemen announces successful hypersonic missile strike on Ben Gurion

  • Politics
  • 30 May 2025

Coverage

All
War on Gaza

Read Next

All
Doctors weigh a Palestinian baby at the Médecins Sans Frontières (MSF) clinic in Muwasi, near Khan Younis in the southern Gaza Strip, Tuesday, April 8, 2025 (AP)
Health

US-Israeli Gaza aid plan is catastrophic, inhumane: MSF

Smoke rises following an Israeli airstrike on Latakia governorate on May 30, 2025 (Social media)
Politics

Israeli airstrikes hit military targets across western Syria

An Iranian security official in protective clothing walks through part of the Uranium Conversion Facility just outside the Iranian city of Isfahan, March 30, 2005. (AP)
Politics

US, E3 to push IAEA to declare Iran in breach of nuclear commitments

A Syrian soldier closes the gate of a military base on the outskirts of Harasta, near Damascus, Syria, Saturday, May 3, 2025 (AP)
Politics

Syrians expel Israeli patrol in Quneitra amid rising tensions

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS