Germany's annual inflation rate rose to 7.9 percent in August, returning to its highest level in half a century after it dipped in the two previous months, AP reported. Inflation hit 7.9 percent in May — the highest rate since the 1973-1974 oil crisis— before slipping to 7.5 percent by July. The statistics office said energy prices were up 35.6 percent on the year and food prices rose 16.6 percent.
