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Germany’s inflation rises to 2.9% in August as energy prices climb
🇵🇾 Paraguay /Economy & Trade

Germany’s inflation rises to 2.9% in August as energy prices climb

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Documents & data Context piece
  • Germany’s annual inflation rate rose to 2.9% in August from 2.8% in July, according to preliminary data from Destatis.
  • Energy prices increased 10.5% from a year earlier, contributing to the rise.
  • Core inflation, excluding food and energy, remained at 2.4%.

Germany’s inflation rate rose to 2.9% in August, with energy prices again driving the increase in consumer costs.

Preliminary data from the Federal Statistical Office, Destatis, showed annual inflation up one-tenth of a percentage point from July. Energy prices were 10.5% higher than a year earlier.

The increase continues a trend that was already visible in July, when energy costs rose 8.3% year on year. That rise followed the expiry of fuel discounts introduced by the German government to soften the economic effects of the war between the United States and Iran, which disrupted hydrocarbon traffic through the Strait of Hormuz.

Core inflation, which excludes the more volatile food and energy categories, held steady at 2.4% in August, matching July’s rate. Germany remains Europe’s largest economy and the world’s third largest, according to the report.

About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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