Germany's inflation rate hits all-time high of 10% in Sept: Destatis

17 Oct '22

2 min read

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Germany’s inflation rate was 10 per cent in September this year, according to the Federal Statistical Office (Destatis). The rate was 7.9 per cent in August and then surged to this high, staying above 7 per cent for seven months. “At 10 per cent, the inflation rate has reached an all-time high since German reunification,” said Destatis president Georg Thiel.

Consumer prices increased markedly by 1.9 per cent in September compared with the August figure.

“Enormous price rises for energy products still are the main reason for the high inflation. But we also see price increases for many other goods, especially food. The end of both the fuel discount period and the 9-euro ticket availability also accelerated the price rises in September 2022. These temporary measures of the second relief package had a downward effect on overall inflation from June to August 2022,“ he said in a press release.

In addition to the rising prices of all energy products due to the situation of war and crisis, delivery bottlenecks and significant price increases at upstream stages in the economic process had an impact on the inflation rate, Destatis said.

Energy product prices were 43.9 per cent higher YoY in September (August 2022: 35.6 per cent).

ALCHEMPro News Desk (DS)

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