German consumer price inflation accelerated to its highest level since the end of 1993, Destatis’ final figures showed on Friday.
Consumer price inflation rose slightly to 3.9 percent in August, from 3.8 percent in July. The highest inflation rate was last measured in December 1993.
Inflation is fast approaching the 4% mark. Statistics Estonia confirmed the rapid assessment published on 30 August.
Destatis said that from July 2021, there will be several reasons for the rise in the inflation rate, including the base effect due to the low prices in 2020.
Excluding energy and food, inflation was 2.8 percent in August.
Compared to July, consumer prices remained unchanged in August according to preliminary estimates.
EU harmonized inflation rose to 3.4 percent from a month ago. The HICP rose 0.1 percent in August, after rising 0.5 percent in July. Both annual and monthly rates were in line with the initial estimate.
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