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Inflation in Germany fell to its lowest level in 18 months in September. According to the Federal Statistical Office, consumer prices were 4.5 percent higher than in the same month last year. Thus, the authority confirmed the initial prediction on Wednesday. In August, a price increase of 6.1 percent was recorded in a year.
The last figure after the decimal point in annual inflation was 4.3 percent in February last year. Following the start of the war in Ukraine at the end of February 2022, energy prices rose rapidly, increasing inflation overall. Significantly increased prices are a burden to consumers. People can get less for their money.
Food prices, which increased by 7.5 percent in September compared to the same month last year, continue to negatively affect consumers. In particular, sugar, jam, honey and other confectionery (plus 15.3 percent) and bread and cereal products (plus 12.0 percent) were significantly more expensive. However, the increase in energy prices slowed down significantly, falling to 1.0 percent. The cost of natural gas (minus 5.3 percent) and gasoline (minus 6.0 percent) is lower than a year ago. Heating oil prices fell sharply (minus 26.0 percent).
Compared to the previous month of August, consumer prices increased by 0.3 percent in September. Here too, statisticians confirmed the preliminary figures.
According to economists, inflation is likely to continue weakening until the end of the year. That rate is now well off its highest level since reunification in the fall of 2022, at 8.8 percent.
(SDA)
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.
