Consumer prices: Rising energy prices drive inflation to 2.9 percent
High energy prices are driving inflation in Germany further upwards. For now, relief at the gas station is over. Economists expect consumer prices to continue rising.
Germany's inflation rate rose to 2.9% in August, according to the Federal Statistical Office, driven by higher energy prices. The increase, which is close to the 3% mark, is attributed to rising fuel and heating oil costs, with energy prices up 10.5% compared to the same time last year. Food prices, on the other hand, increased by only 0.1%. The European Central Bank is expected to raise interest rates at its next meeting on September 10 to combat inflation, which has also risen to 2.9% in the eurozone.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
