Annual Inflation In Germany Reaches Record 10% In September - Destatis

MOSCOW (Pakistan Point News / Sputnik - 29th September, 2022) Inflation in Germany is expected to soar to a record high of 10% in annual terms in September, increasing from 7.9% a month earlier, according to provisional data the German Federal Statistical Office (Destatis) released on Thursday.

"The rate of inflation in Germany is expected to be +10.0% in September 2022. The inflation rate is measured as the change in the consumer price index (CPI) compared with the same month a year earlier," Destatis said.

The inflation rate given by Destatis exceeds some expectations, with experts from the DailyFX finance portal forecasting a rate of 9.4%.

Consumer prices are going to increase by 1.9% in September, according to provisional estimates, with a forecast of 1.3%, while the growth of prices in August was 0.3%.

Energy prices rose by 43.9% in September 2022 compared with the same month last year, with food prices growing by 18.7% over the same period, Destatis added.

Destatis will publish detailed information and final data on inflation in Germany in September on October 13.