annual inflation in Germany is back home highest level in Approximately half a century in August, official Data showed on Tuesday, after falling in the past two months.
The data shows the consumer price inflation in Germany rose to 7.9% in August strengthens the case for European Central Bank (ECB) to go for The largest interest basis point rate a plus next Month.
inflation in The largest in Europe economy first hit 7.9% in May the highest rate Since winter of 1973-1974, when prices fueled the oil crisis – before the slide back to 7.5% by July. Usually the prime number is unchanged in a final Report in about two weeks.
as such in else countries about worldinflation in Germany was stoked by the Russian war in Ukraine, which led to rise in Energy costs and food prices.
statistics office He said energy prices were up 35.6% on The year in Food prices rose in August by 16.6% while the effects of Supply chain disruption caused The coronavirus pandemic is still being felt.
The rise come though government Measures aimed at curbing inflation, including cheaper public Transit tickets and fuel tax cuts, ie set to the end on Wednesday. without follow-up Actions, analysts expected inflation to reach double numbers before the end of 2022.
“If we judge by current inflation rate And what’s yet to come, the European Central Bank should Launching a very big interest rate said VP Bank Chief Economist Thomas Getzel.
central Germany banksaid the Bundesbank in his monthly report last week that “inflation rate could climb up to about 10% in fall”, although it noted that inflation expectations are “highly uncertain”.
The European Central Bank raised its deposits rate by 50 basis points to me zero in July and so on move was expected for September until recently, but the host of policy makers made the case for Discussing a 75 basis point increase as well.
The inflation rate in the euro area is 8.9% already more of four times ECB target of 2% and could exceed 10% in the coming months.
