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Germany’s inflation at 4-month high

Germany’s inflation at 4-month high

BERLIN: Germany’s inflation accelerated to a four-month high in August on energy prices, final data from Destatis showed Wednesday. Consumer price inflation rose to 1.8% in August from 1.7% in July. The rate came in line with the preliminary estimate released on August 30. This was the highest since April, when the rate was 2%. Excluding food and energy, inflation was 1.6%. Food price growth increased to 3% from 2.7%. Likewise, energy prices advanced 2.3% after rising 0.9% a month ago.

Month-on-month, consumer prices edged up 0.1%, in line with estimate, but slower than the 0.4% increase seen in July. Nonetheless, prices have increased for the third straight month. At the same time, inflation, based on the harmonized index of consumer prices, rose to 1.8% in August from 1.5% in July. The HICP climbed 0.2% on month in August. Both monthly and annual figures matched flash estimate.