Energy prices are driving inflation in Germany to levels not seen in four decades

German inflation in April reached its highest level in more than four decades, driven by prices of natural gas and mineral oil products that have risen sharply since Russia’s attack on Ukraine.

On Thursday, the Federal Statistics Office said consumer prices rose 7.8 percent year on year, up from 7.6 percent in March.

The inflation reading in Germany, the largest economy in the Eurozone, comes a day before the release of data for the entire 19-country region.

Inflation in the eurozone hit an unprecedented level in March.