German September inflation confirmed at 3.3%

(Sharecast News) - German inflation was confirmed at 3.3% in September, according to the federal statistics office.

Consumer prices, harmonised to compare with other European Union countries, was 2.9% year-on-year in the prior month, Destatis added on Tuesday.

"The rate of inflation exceeded the three percent mark in September and therefore reached a new record high this year. This was also the highest level recorded since December 2023," said Destatis president Ruth Brand.

"Once again, the development of energy prices was responsible for the increase in the inflation rate. The rise in prices was particularly evident in the price of mineral oil products at filling stations and in the price of heating oil", Brand added.

Reporting by Frank Prenesti for Sharecast.com