BERLIN, Sept 10 (Askume) – German inflation fell to its lowest level in more than three years in August, confirming a second forecast on Tuesday, making it easier for the European Central Bank to cut interest rates this week.
Inflation fell to 2.0% in August, the lowest level since June 2021, as energy prices fell.
Compared to other EU countries, consumer prices in Germany rose by 2.6% year-on-year in July.
Core inflation, which excludes volatile food and energy prices, slowed slightly to 2.8% in August from 2.9% in the previous month.
German energy prices fell 5.1% in August compared to the same month last year.
On the other hand, food prices rose for the fifth consecutive month. According to the Bureau of Statistics, food prices rose by 1.5% in August compared to the same month last year.
Service prices rose much faster than overall inflation, with an annual increase of 3.9% in August.
