Economic Buzz: Germanys Consumer Price Inflation At 7.9% In August

13 Sep 2022 , 02:42 PM

The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +7.9% in August 2022. The inflation rate thus increased slightly again (July 2022: +7.5%; June 2022: +7.6%), remaining clearly above 7% for half a year now. The main reason for the high inflation still is price rises for energy products and food. Two measures of the relief package had a slight downward effect on the overall inflation rate especially from June to August 2022: the 9-euro ticket and the fuel discount. The Federal Statistical Office (Destatis) also reports that consumer prices in August 2022 were up 0.3% on July 2022.Powered by Commodity Insights