Dow Jones Newswires: German inflation resumed upward trend in August

by | Sep 13, 2022 | Stock Market

German inflation accelerated again in August after easing in both June and July, confirming the first estimate, in a sign that price pressures persist as the energy supply crisis lingers. The consumer price index–a measure of what consumers pay for goods and services–rose 7.9% in August compared with the same month a year ago measured by national standards, up from 7.5% in July, final data from German statistics office Destatis showed Tuesday.

Economists polled by The Wall Street Journal expected inflation to come in at 7.9%. Consumer price inflation in August accelerated to 7.9%, the same registered in May, which is the highest reading since 1973, after declining slightly both in June and July due to temporary government measures. In August, consumer prices rose 8.8% on year by European Union harmonized standards, Destatis said. Write to Maria Martinez at maria.martinez@wsj.com

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