Euro zone inflation hits yet another record high as food and energy prices soar. Euro-zone inflation accelerated to 8.1%, the surge comes in from energy prices which rose 39.2% in April due to the Russia Ukraine war.
Energy prices jumped jumped by 39.2% as a result of a global energy crunch caused by the war.
Food prices soared by 7.5%, while prices for other goods — such as clothing, appliances, cars, computers and books — were up 4.2% and the cost for services rose 3.5%.
Germany's inflation rate reached 7.9% in May, according to data published on Monday by the German statistical agency Destatis.