Germany's annual inflation at 7.3% in March

Germany's annual inflation rate was at 7.3% in March, the highest since 1981, the Federal Statistical Office's (Destatis) data showed on Tuesday.

On a monthly basis, consumer prices went up by 2.5% in March, Destatis added.

In March, prices increased mainly due to the surge in prices of natural gas and mineral oil products. Delivery bottlenecks due to interruptions in supply chains caused by the COVID-19 pandemic also contributed to the reading.

The annual inflation rate was 5.1% in February, which also was the highest level since the German reunification, the office recalled.