Inflation picks up again in Germany after end of support measures

To relieve German households, the government adopted in early September 2022 a support plan of 65 billion euros AP - Pavel Golovkin

Text by: RFI Follow

1 min

After two months of slowdown, inflation rose in August to stand at 7.9%.

Final figures published this Tuesday, September 13, against a backdrop of the energy crisis and as government support measures come to an end.

The rise in prices should continue next year, according to experts.

Advertising

Read more

Overall, the continued explosion in prices in Germany stood at 35.6% over one year, in August, against 35.7% in July.

Food prices soared to 16.6% in August, almost 2% more than in July, due to the war in Ukraine, the country being particularly dependent on Russian gas, but also droughts in Ukraine. 'summer.

Goods prices also rose by 14.7%, or 0.8 points more than in July, due to disruptions in supply chains.

This increase puts an end to two months of lower prices authorized by the German government to reduce household energy bills.

In June, the country had indeed reduced the exceptional tax on fuel and

, except in high-speed trains.

These measures ended in September and some observers fear a further spike in prices in the coming months.

The Bundesbank plans an increase to more than 10%, driven, among other things, by a tax on gas planned for October to prevent energy companies from going bankrupt. 

The inflation rate should reach 11% during the first quarter of 2023, according to forecasts by the economic research institute IFO.

►Also read: Energy: the German government announces a new aid plan of 65 billion euros

Newsletter

Receive all the international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

• Germany

• consumption

• Trade and distribution

• Energies