Germany’s inflation rate is expected to be 7.9 per cent in August this year compared to 7.5 per cent in July, according to the Federal Statistical Office (Destatis), which recently said consumer prices are expected to increase by 0.3 per cent in the month over the July figure. Energy prices, in particular, have increased considerably since the war started in Ukraine and have had a substantial impact on the high inflation rate.The inflation rate is measured as the change in the consumer price index (CPI) compared with the same month a year earlier.
Germany's inflation rate is expected to be 7.9 per cent in August compared to 7.5 per cent in July, according to Destatis, which said consumer prices are likely to rise by 0.3 per cent in the month over July. Energy prices, in particular, have increased considerably since the Ukraine war started and have had a substantial impact on the high inflation rate.
Energy prices were 35.6 per cent higher in August than in the same month last year.
Marked price increases at the upstream stages in the economic process have an upward effect on prices. Another factor with an upward effect on prices is interruptions in supply chains caused by the COVID-19 pandemic, Destatis said in a press release.
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