In May this year, inflation, as measured by the HICP, exceeded 5 % in France and 8 % in Germany. The last time we had inflation rates of this magnitude in Germany was in the winter of 1973-74 during the first oil crisis.
If inflation were a living person, they might respond with the famous words of Mark Twain: "The reports of my death are greatly exaggerated." The recent spike in inflation is being driven, for the most part, by the aftermath of the pandemic and the war in Ukraine. But the future path of inflation also depends on the inflation expectations of economic agents.