German inflation slowed to 6.4% in August

According to the final data of the German Federal Statistical Office, in August consumer prices that meet European Union standards increased by 6.4% compared to the same period last year.

Thus, inflation slowed down from 6.5% in July. The result corresponds to the preliminary assessment and forecasts of experts.

On a monthly basis, prices for consumer goods and services increased by 0.4%, after an increase of 0.5% in July.

Inflation, calculated only by German standards, also slowed down – in August the indicator fell to 6.1% y/y from 6.2% in July. This was the minimum growth in the last three months.

The cost of energy in Germany accelerated its growth to 8.3% from 5.7%. The cost of food increased by 9% (in July – by 11%).

Core inflation, excluding volatile energy and food prices, remained stable and amounted to 5.5% y/y in August, remaining at the level of the previous month.

Preliminary data on the dynamics of inflation in Germany in September will be published on September 28.