9/13/2022, 8:01 AM (Source: TeleTrader)
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German inflation confirmed at 7.9% in August

The annual consumer price growth in Germany during August confirmed preliminary reading of 7.9%, according to a report published by Destatis on Tuesday. The monthly change was confirmed at 0.3%.

The harmonized index of consumer prices for the yearly period also remained at an estimated 8.8%. The harmonized monthly change came in at 0.4%.

While there were no changes to initial figures last month, markets are expecting inflation to soar once again in September since the government subsidies expired on August 31. "Energy and food prices continue to be the main reasons behind high inflation," Destatis head Georg Thiel concluded.

Baha Breaking News (BBN) / ND