MADRID, 8 Sep. (EUROPA PRESS) –
The German Federal Statistics Office (Destatis) confirmed this Friday that the Consumer Price Index (CPI) stood at 6.1% in August in an interannual rate, one tenth less than in July and its smallest increase since last May.
The harmonized year-on-year inflation data, used by Eurostat in its statistics, reached 6.4% in August, compared to 6.5% the previous month.
In August 2023, food prices continued to show above-average growth, rising 9% compared to the same month last year, following an 11% rise in July.
According to Destatis, consumers “had to pay much more” for sugar, jam, honey and other confectionery products (17.1%). There were also considerable year-on-year increases in the prices of bread and cereals (13.6%), vegetables (12.4%) and fish and seafood (11.5%). On the other hand, edible fats and oils cost 13.9% less than a year before.
“The inflation rate remains at a high level. Increases in energy and food prices exceed general inflation and keep the inflation rate high,” stressed Ruth Brand, President of the Federal Statistical Office.
In the case of energy, the increase in prices accelerated to 8.3% in August, compared to the increase of 5.7% in July. Electricity prices, specifically, showed a growth of 16.6% compared to August 2022, while gas prices increased by 2.2% year-on-year.
The core inflation rate, which excludes the volatility of energy and fresh food prices, remained at 5.5% in August, which, for Destatis, demonstrates the “significant role” that prices are playing of food in the rise in inflation.
In monthly terms, Germany’s CPI grew by 0.3%, the same rate as in July.
