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 percent in August from 1.7 percent 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 percent.
Excluding food and energy, inflation was 1.6 percent. Food price growth increased to 3 percent from 2.7 percent. Likewise, energy prices advanced 2.3 percent after rising 0.9 percent a month ago.
Month-on-month, consumer prices edged up 0.1 percent, in line with estimate, but slower than the 0.4 percent 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 percent in August from 1.5 percent in July. The HICP climbed 0.2 percent on month in August. Both monthly and annual figures matched flash estimate.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Forex News