German inflation expected at 10% in September

Thursday, 29. September 2022 14:01

According to the latest provisional estimate of the Federal Statistical Office of Germany (Destatis), country's annual inflation in September 2022 is expected to reach 10%, exceeding analysts' expectations for the month and marking an increase from August's figure, when it stood at 7.9%. On a monthly basis, inflation will be 1.9%, as per the report published on Thursday.

On a yearly basis, prices of goods will increase by 17.2% in the month, whereas prices of services will grow by 3.6%. Due to the situation around Ukraine, energy prices will rise by 43.9% in September 2022 than in September 2021, while food prices are to go up ''above average'' by 18.7% when compared to the same month last year.

The harmonised index of consumer prices, on the other hand, will rise by 10.9% on a yearly basis and 2.2% on a monthly basis, the estimate read.

The final results are expected to be released on October 13, Destatis noted.

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Author:
Baha Breaking News (BBN) / MM