MOSCOW (Pakistan Point News / Sputnik - 13th October, 2022) Annual inflation rate in Germany increased from 7.9% in August to a record 10% in September due to the ongoing rise in energy and food prices, the German Statistical Office (Destatis) said on Thursday.
The figure is in line with the forecast of analysts polled by US-based portal DailyFX and Destatis' preliminary estimate.
Since the beginning of the year, EU member states, including Germany, have been facing accelerating inflation, caused in part by Western sanctions against Russia over its special military operation in Ukraine. Most consumers consider inflation a top-priority problem, given the increase in food and energy prices, and cuts into spending power. In particular, Germany saw 43.9% increase in energy prices this September year-on-year, while food prices in the country grew by 18.7% from the same month of 2021.
