German inflation rises 2.3% in September

Economy 10/12/2018, 8:01 AM
German inflation rises 2.3% in September

Consumer prices in Germany rose 2.3% in September compared to the same month last year, the Federal Statistical Office (Destatis) on Friday, thus confirming its provisional estimate. Compared to the previous month, consumer prices in Europe's largest economy were 0.4% higher.

Energy prices contributed significantly to the increase as they surged 7.7% year-on-year with heating oil and motor fuel prices soaring 35.6% and 13%, respectively. Food prices climbed 2.8% compared to the same month in 2017, while services advanced 1.5%. Total goods prices were up by 3.1% in September.

The harmonized index of consumer prices for Germany increased by 2.2% compared to September last year and gained 0.4% month-on-month.

Breaking the News / NP

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