10.09.202107:28:00UTC+00Germany Consumer Price Inflation Highest Since 1993

Germany consumer price inflation accelerated to the highest level since late 1993, final data from Destatis showed on Friday.

Consumer price inflation rose marginally to 3.9 percent in August from 3.8 percent in July. A higher inflation rate was last measured in December 1993.

Inflation is fast approaching the four percent mark. The statistical office confirmed the flash estimate published on August 30.

Destatis said there were a number of reasons for the increase in the inflation rate since July 2021, which include base effects due to low prices in 2020.

Excluding energy and food, inflation was 2.8 percent in August.

Compared to July, overall consumer prices remained flat as initially estimated in August. EU harmonized inflation advanced to 3.4 percent from 3.1 percent a month ago. The HICP rose 0.1 percent in August, following July's 0.5 percent increase. Both annual and monthly rates matched flash estimate.