According to preliminary data from the German Federal Statistical Office Destatis, consumer prices in the country (harmonized with EU standards) in September increased by 10.9% year-on-year. The inflation rate has accelerated significantly compared to 8.8% in August and has again updated the historical maximum. Analysts predicted a more moderate acceleration of inflation – up to 10%. On a monthly basis, consumer prices in Germany increased by 2.2% compared to the previous month (0.4%), experts expected an increase of 1.3%. Inflation, calculated only by German standards, rose to 10% y/y in September, which was the highest since 1951. Then the price growth in recovering after the war Germany reached 11%. Relative to August, inflation was 1.9%. Analysts expected annual inflation at 9.4%, monthly – 1.3%. In August, it was 7.9% and 0.3%, respectively. In particular, the cost of energy in Germany in September jumped by 43.9% y/y (in August – by 35.6%), food – by 18.7% (16.6% in August). Services rose 3.6% after rising 2.2%. The final data on September inflation will be published on October 13.
