Germany's annual inflation confirmed at 2.2% in August

By Mucahithan Avcioglu

ISTANBUL (AA) - The consumer price index (CPI) in Germany rose 2.2% in August on a yearly basis, up from 2% in July, according to final data released on Friday.

The figure confirmed the Federal Statistical Office (Destatis)'s preliminary estimates for the month.

The figure was at 2% in July and June, its lowest level since last October, Destatis data showed.

The CPI figures were at 2.1% in May and April and 2.2% in March, down from a 14-month high of 2.6% in December.

Above-average increases in services and food prices continued to drive up inflation with increases of 3.1% and 2.5%, respectively.

Meanwhile, energy prices continued to see a significant decline in August, though at a slower pace, falling 2.4% year-on-year.

The inflation rate excluding food and energy, often referred to as core inflation, was at 2.7% in August on an annual basis, stable from the previous month.

Compared to July, consumer prices rose 0.1% in August, slowing from a 0.3% rise in July.