The inflation rate of producer prices for industrial products in Germany soared to 33.6 percent year-over-year from May 2021. They have hit a new record high every month since December 2021.

There is other news from Germany that shows how economic sanctions against Russia are backfiring spectacularly. Energy costs have risen by 87.1 percent since May 2021 with natural gas costs rising by an astounding 148.1 percent.

While Germany and other Western countries pay mightily for their arrogant and shortsighted policies, Russia is cashing out. The administration of Russian President Vladimir Putin is boasting about their country’s economic strength while the West is destroying itself.

“Considering the price level that has been established as a result of the West’s policies, we have suffered no budgetary losses,” Russian Foreign Minister Sergey Lavrov said during an appearance on Bosnian TV.