Germany: Inflation rate rises to 2.9% in August

Berlin, Aug 31 (KUNA) – The German Federal Statistical Office announced on Monday that the country’s inflation rate rose to 2.9 percent year-on-year in August. In a press release issued from its headquarters in Wiesbaden, central-southern Germany, the office said consumer prices increased by 0.2 percent compared with July. Energy prices saw a notable rise, jumping 10.0 percent compared with August of last year, continuing their acceleration after increases of 8.3 percent in July and 3.4 percent in June. The consumer price index also rose by 2.9 percent year-on-year and by 0.2 percent compared with the previous month. The figures indicate that inflationary pressures on the German economy persist, particularly due to higher energy costs. (End) E.N.J./A.M.H.