Central Bank of Germany. Photo: Premium Times
Germany’s inflation in September is the highest the country has seen in more than a quarter of a century, precipitated by high energy prices.
Analysts have warned that the energy crisis is yet to have a full impact on the nation.
According to Reuters, Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said.
A Reuters poll of analysts have predicted a rise of 10.0%.
Comparing data since 1996, this is the highest.
The increase was due to higher costs for energy – which were 43.9% higher compared with September 2021 – after a popular cheap transport ticket offer and a fuel tax cut expired at the end of August.
Writing by Muzha Kucha