German Consumer Prices Increased Further in August

By Maria Martinez

German consumer prices rose strongly in August, according to preliminary data released by the German statistics office Destatis on Monday.

Consumer prices rose 3.9% on year measured by national standards, in line with the forecasts of economists polled by The Wall Street Journal. They rose 3.4% on year by European Union-harmonized standards, also in line with forecasts.

The increase in the inflation rate is mainly due to the base effects, the statistics office said.

Consumer prices remained unchanged on month by national standards, below the 0.1% forecasts of economists polled by The Wall Street Journal. Prices increased 0.1% by EU-harmonized standards.

The price collection problems caused by the coronavirus pandemic in the previous months were less severe in August, as the shop-based retail business and food service and accommodation establishments were largely reopened or could offer their services again, Destatis said.

Final results will be released on Sept. 10.

Write to Maria Martinez at [e-mail]

(END) Dow Jones Newswires

08-30-21 0835ET