Germany: Germany's Federal Statistical Office announced that annual inflation rose again in April to 2.9%, compared to 2.7% in March, amid price pressures stemming from the repercussions of the Strait of Hormuz crisis.
According to Yemen News Agency, this is the highest inflation level since January 2024. The last time the inflation rate exceeded 3% was in December 2023, when it reached 3.7%.
Data shows that the war with Iran at the end of February led to a significant increase in energy prices in Germany, with household energy and fuel costs jumping by 10.1% in April compared to the previous year.
March also saw the first increase in energy prices since December 2023, rising by 7.2%, which contributed to pushing inflation to 2.7%. On a monthly basis, consumer prices rose by 0.6% between March and April.
Experts warned that rising energy costs will impact production and transportation prices, potentially leading to continued inflationary pressures, particularly on food, services, and restaurants.
Meanwhile, food prices accelerated this month to 1.2%, compared to 0.9% last month.