Germany Inflation
Post last updated: October 28, 2023
Germany Inflation - PPI/CPI
Peak #inflation? Not in #Germany! German Consumer Prices (CPI) are likely to rise further after Producer Prices (PPI) increased by almost 46% in August, the strongest increase since 1949.
(tweet Holger Zschaepitz)
PPI - explanation by https://www.investing.com
The German Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers.
A higher-than-expected reading should be taken as positive/bullish for the EUR, while a lower-than-expected reading should be taken as negative/bearish for the EUR.
Consumer price index, August 2022
+7.9% on the same month a year earlier (provisional result confirmed)
+0.3% on the previous month (provisional result confirmed)
Harmonised index of consumer prices, August 2022
+8.8% on the same month a year earlier (provisional result confirmed)
+0.4% on the previous month (provisional result confirmed)
The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +7.9% in August 2022. The inflation rate thus increased slightly again (July 2022: +7.5%; June 2022: +7.6%), remaining clearly above 7% for half a year now.
“The main reason for the high inflation still is price rises for energy products and food. Two measures of the relief package had a slight downward effect on the overall inflation rate especially from June to August 2022: the 9-euro ticket and the fuel discount,” said Dr. Georg Thiel, President of the Federal Statistical Office.
The Federal Statistical Office (Destatis) also reports that consumer prices in August 2022 were up 0.3% on July 2022.
