Consumer prices rose 10.0 percent in September, the Federal Statistics Office said on Thursday. The authority thus confirmed the preliminary data. Inflation was recorded at 7.9 percent in August.
Higher inflation rates reduce the purchasing power of consumers who can pay less for a euro. People’s financial resources are shrinking. Energy and food have been the biggest price drivers for months. Consumers had to pay 43.9 percent more for energy in September than the previous year, and food prices rose 18.7 percent.
Highest value since 1950s
In recent months, the tank discount and the 9 euro ticket for local public transport have provided some relief. Both measures ended at the end of August.
In September, consumer prices increased by 1.9 percent compared to the previous month. Here, too, statisticians confirmed the preliminary data.
Current levels of inflation have never existed in a reunified Germany. In the former federal states, rates of 10 percent and more were measured in the early 1950s, but the method of calculation has changed over time. (SDA/smt)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
