German inflation hits record 10% in September - official data
German inflation accelerated sharply in September on the back of rocketing energy prices, official data showed Thursday, heaping fresh pressure on consumers in Europe's top economy.
- Economy
- DPA
- Published Date: 04:35 | 29 September 2022
- Modified Date: 04:38 | 29 September 2022
The inflation rate in Germany hit a record 10% in September, according to an official first estimate.
In August the rate was 7.9%, but prices have continued to rise fast mainly due to an increase in energy costs as a consequence of the war in Ukraine.
Energy prices were 43.9% higher in September 2022 than in September 2021, according to the data from the Federal Statistical Office. There was also an above average rise in food prices by 18.7% compared to the same month of last year.
The end of two state subsidies - a fuel discount and a 9-euro cheap travel pass - "presumably had an impact on the inflation rate in September," the office said.
In August the rate was 7.9%, but prices have continued to rise fast mainly due to an increase in energy costs as a consequence of the war in Ukraine.
Energy prices were 43.9% higher in September 2022 than in September 2021, according to the data from the Federal Statistical Office. There was also an above average rise in food prices by 18.7% compared to the same month of last year.
The end of two state subsidies - a fuel discount and a 9-euro cheap travel pass - "presumably had an impact on the inflation rate in September," the office said.
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