The inflation rate in Germany rose to 10 percent in September, reaching a new high since the statistical office has comparable data, driven by the accelerated increase in energy and food prices. In August, the inflation rate was 7.9 percent.
The estimate for September shows the strongest price growth since 1996 and the beginning of the time series of comparable data, notes Reuters. The dpa agency highlights that some federal states have not seen such a high inflation rate since the 1950s.
Energy prices were 43.9 percent higher in September than in the same month last year, according to calculations by Destatis. In August, they increased by 35.6 percent. The growth of food prices also accelerated to 18.7 percent, up from 16.6 percent in August.
On a monthly basis, consumer prices jumped 1.9 percent in September, following a 0.3 percent increase in August.
Destatis emphasizes a 'noticeable' increase in energy prices since the start of the war in Ukraine and an 'above-average' increase in food prices, which it links to a 22.3 percent rise in producer prices in the food sector.
Statisticians also highlight the removal of fuel subsidies and monthly public transport passes and ongoing disruptions in supply chains due to the coronavirus pandemic.
