German inflation confirmed at 6.1% in August
EPA-EFE/CHRISTOPHER NEUNDORF
Consumer prices in Germany rose 6.1% in August compared to the same month a year earlier, the Federal Statistical Office (Destatis) said on Friday, thus confirming its
provisional estimate. The figure marks a decline from July when inflation stood at 6.2%.
Food prices were the biggest driver of inflation, soaring 9% compared to August last year. Energy prices rose 8.3% year on year in August, accelerating from an annual increase of 5.7% in July. Excluding energy and food, the annual inflation rate was 5.5%. Prices of goods climbed 7.1% year on year, while services prices were up 5.1%.
On a monthly basis, consumer prices in Europe's largest economy rose 0.3%. The harmonized index of consumer prices for Germany increased by 6.4% from August 2022 and gained 0.4% month on month.