Frankfurt, Berlin Inflation in Germany increased significantly in September. Consumer prices increased by 10 percent compared to the previous year to. This was announced by the Federal Statistical Office on Thursday based on a preliminary estimate.
In August, inflation was still 7.9 percent. Economists polled by the Reuters news agency had expected a figure of 9.4 percent for September. Reasons for the increase are the end of the tank discount and the nine-euro ticket. The two relief measures of the traffic light coalition expired at the end of August and had previously dampened inflation.
In its current monthly report, the Bundesbank assumes that inflation will be in the double digits in the coming months. The Munich-based Ifo Institute forecasts that the inflation rate could rise to eleven percent in the first quarter of 2023.
More: “Incredible price hammer”: Producer prices in Germany are rising at record speed
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