German inflation rises as estimated in August to 7.9%

Germany's consumer price inflation accelerated as initially estimated in August, the latest figures from the Federal Statistical Office (Destatis) showed on Tuesday.
The consumer price index rose 7.9% year-on-year in August, faster than the 7.5% increase in July. That was in line with flash data published on August 30.
The harmonized index of consumer prices, or HICP, climbed 8.8% year-on-year after an 8.5% increase in the prior month. The latest figures confirmed the initial estimate, as well.
The upward trend was largely driven by increased prices for energy products and food items.
Energy inflation was almost unchanged in August with the rate of increase easing fractionally to 35.6% from 35.7% in July.
The rate of energy inflation has been high since the war in Ukraine began and, consequently, the supply of Russian gas was interrupted
Meanwhile, food price inflation rose to 16.6% from 14.8%. Costs for services were up 2.2% from last year and prices of goods alone grew 14.7%.
Compared to the previous month, the CPI moved up 0.3% in August after a 0.9% increase in July. The EU measure of inflation, HICP, climbed 0.4% after rising 0.8% in the previous month. Both monthly figures were in line with flash data.