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German EU-harmonised consumer prices up 8.8% y/y in August

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German EU-harmonised consumer prices up 8.8% y/y in August By Reuters

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Economy 8 minutes ago (Aug 30, 2022 13:22)

© Reuters. FILE PHOTO: Shoppers wear mask and fill Cologne’s main shopping street Hohe Strasse (High Street) in Cologne, Germany, 12, December, 2020. REUTERS/Wolfgang Rattay

(Reuters) – German consumer prices, harmonised to compare with other European countries, were up 8.8% on the year and rose by 0.4% month-on-month in August preliminary data from the Federal Statistics Office showed on Tuesday.

Analysts had also expected harmonised data to increase 8.8% on an annual basis and rise 0.4% on the previous month.

The statistics office gave the following breakdown of non-harmonised year-on-year data for August:

INDEX/COMPONENT

(basis 2015) Aug Jul Weighting

2022 2022

in 1/1000

Overall index +7.9

+7.5 1000

Goods +14.7

+14.1 468.16

Energy +35.6

+35.7 103.83

Food +16.6

+14.8 84.87

Services +2.2

+2.0 531.84

Household rents +1.8

+1.8 207.26

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Hungary central bank raises base rate by 100 bps to 11.75% as expected

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