Germany: Annual CPI inflation rises to 7.9% in August

Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany’s Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%. The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, edged higher to 8.8% from 8.5% as expected.

Monthly, the CPI and the HICP arrived at 0.3% and 0.4%, respectively, matching analysts’ estimates.