According to final data released on Friday, Germany’s annual consumer inflation was confirmed at 6.1% in August. The Federal Statistical Office (Destatis) said in a statement that the reading was slightly down from July’s 6.2%.
Ruth Brand, the head of Destatis, claimed:
“The increases in energy and food prices exceed overall inflation and keep the inflation rate high”.
Energy inflation, led by electricity, accelerated to 8.3% in August from 5.7% in July. Food price growth has slowed in August to 9% year-on-year following an 11% hike in July. Core inflation, except for food and energy, came in at 5.5% in August, unchanged compared to a month earlier. On a monthly basis, Germany’s consumer price index rose 0.3% in August, as initially expected.
Ruth Brand added that this situation had already been predictable in August. She claimed:
“This base effect will cease to apply from the next month onwards”.
