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8/11/2021, 8:01 AM (Source: TeleTrader)
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German inflation at 3.8% in July, highest since 1993

Consumer prices in Germany increased by 3.8% in July compared to the corresponding month last year, according to a final report released by the Federal Statistical Office (Destatis) on Wednesday. The reading was the highest since December 1993. Consumer prices were 0.9% higher in July in comparison to figures from June.

The rise in the yearly inflation rate was mostly driven by an 11.6% jump in energy prices. Excluding food and energy, the Consumer Price Index (CPI) was 2.7% up year over year and 0.9% on a monthly basis.

Prices of goods rose by 5.4% compared to July 2020 and by 0.3% from June 2021, while prices of services increased by 2.2% on an annual basis and advanced 1.5% month-on-month.

Baha Breaking the News (BBN) / MS