German inflation spirals ...News

Russia Today - Economy
German inflation spirals
source : Russia Today ( News ) () 29
Soaring energy costs are pushing up consumer prices, official statistics show Annual inflation in Germany accelerated to 8.8% in August, the highest level in nearly 50 years, finalized data from the Federal Statistical Office (Destatis) showed on Tuesday. According to the agency’s press release, the figure rose from 8.5% in July (on an EU-harmonized basis), driven by soaring prices of energy products and food. When using German standards, consumer prices rose by 7.9%, in line with market forecasts. “The main reason for the high inflation still is price rises for energy products and food. Two measures of the relief

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