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Economics

German Inflation Hits Fresh Record, Piling Pressure on ECB

  • Food and energy costs send consumer prices up 8.7%; est. 8.1%
  • Data follow overshoot in Spain, which saw new all-time high
Customers browse stalls at a farmers' market in Hamburg.
Customers browse stalls at a farmers' market in Hamburg.Photographer: Imke Lass/Bloomberg
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German inflation hit another all-time high, adding urgency to the European Central Bank’s exit from crisis-era stimulus after numbers from Spain also topped economists’ estimates.

Driven by soaring energy and food costs, data released Monday showed consumer prices in the continent’s biggest economy jumped 8.7% from a year ago in May. Analysts surveyed by Bloomberg predicted an 8.1% advance.