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

by Wanda Rich
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2022 08 30T121534Z 1 LYNXMPEI7T0HC RTROPTP 4 GERMANY ECONOMY INFLATION

(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

(Reporting by Berlin Speed Desk; Editing by Madeline Chambers)

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