Germany's inflation rate expected to cross 10% in Sep 2022: Destatis

Based on the results available so far, the Destatis also reports that consumer prices are expected to increase by 1.9 per cent in August 2022. The inflation rate is measured as the change in the consumer price index (CPI) compared with the same month a year earlier.

Energy prices, in particular, have increased considerably since the war started in Ukraine and have had a significant impact on the high inflation rate. Energy prices were 43.9 per cent higher in September 2022 than in September 2021.

Marked price increases at the upstream stages in the economic process have an upward effect on prices, together with the continuing supply chain interruptions caused by the COVID-19 pandemic. The end of both the fuel discount period and the 9-euro ticket availability presumably had an impact on the inflation rate in September. The effect cannot be quantified yet on the basis of the provisional results.

ALCHEMPro News Desk (NB)