Accelerates inflation in Germany, reaching 2% on an annual basis in August. The figure increased due to the increase in oil prices for fuel and heating. This is indicated by preliminary data from the German Federal Statistical Office. The 2% reading comes after July's 1,7%.
On a monthly basis, however, the German CPI rose by 0,3% in August, less than the 0,4% in July but more than the 0,2 expected by economists. As regards the harmonized data, German inflation settled in August at 0,3% quarter on quarter and 2,2% on a trend basis, from 0,4% and 1,9% respectively in the previous month.
