Consumer prices in Germany rose in August more than expected, according to the country’s statistics office Destatis on Wednesday. For this month, prices have risen by 0.4%, while for a year the basket of goods has become with 2.1% more expensive.
Both figures were revised to 0.1%, in comparison with previous estimates published in the end of August.
The annual price increase is due to increased energy costs with 7.6%, said Destatis. With the exception of fuel prices, inflation remained unchanged for this month and rose by 1.4% during the year.
Among the other key categories, the prices of food products and soft drinks fell by 0.3% m / m and rose with 3.1% y/ y. Prices of clothing and footwear have risen by 1.5% m / m and with 2.0% y / y.
Inflation rose by 0.4% m / m and 2.2% y/y in August. The preliminary estimate for August in this way confirmed the annual calculation and revised upwards with 0.1% on a monthly basis – said Destatis.
Annual inflation is above the target of 2.0% of the European Central Bank. France reported a rise in consumer prices with 0.7% m/m and 2.1% y/y.