Inflation in Germany increased massively in September. After the elimination of the nine-euro ticket and the tank discount, goods and services cost an average of 10.0 percent more than a year earlier, as the Federal Statistical Office announced on Thursday in an initial estimate. Economists polled by Reuters had expected an increase to 9.4 percent, after 7.9 percent in August. Inflation has thus risen to its highest level since December 1951, when annual inflation – based on largely comparable data – was 10.5 percent. The Ukraine war has driven up prices, especially for energy, but also for raw materials and food.
More to come.
hb/tko (rtr)
