Inflation rate at +6.1% in August 2023

From destatis.de

The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +6.1% in August 2023. In July 2023, the inflation rate was +6.2%. “The inflation rate therefore remains at a high level”, says Ruth Brand, President of the Federal Statistical Office. She adds: “The increases in energy and food prices exceed overall inflation and keep the inflation rate high. The base effect stemming from last year’s 9-euro ticket was also apparent in August, when it drove inflation up and reduced the dampening effect of the Germany ticket on prices. This base effect will cease to ... (full story)