Germany's annual inflation for August confirmed at 6.1%

By Tuba Ongun

Germany's annual consumer inflation was confirmed at 6.1% in August, according to final data released on Friday.

The reading was slightly down from July's 6.2%, the Federal Statistical Office (Destatis) said in a statement.

"The increases in energy and food prices exceed overall inflation and keep the inflation rate high," said Ruth Brand, the head of Destatis.

The base effect due to the government’s relief measures of 2022 – the €9 ticket – was apparent in August, she added.

"This base effect will cease to apply from the next month onwards,” Brand said.

Energy inflation, led by electricity, accelerated to 8.3% in August from 5.7% in July.

Food price hikes in August slowed to 9% year-on-year following an 11% hike in July.

Core inflation, excluding food and energy, came in at 5.5% in August, unchanged compared to a month earlier.

On a monthly basis, Germany's consumer price index rose 0.3% in August, as initially expected.