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(MSN) – Germany’s annual rate of inflation accelerated again in September, beating forecasts and posting the highest reading since December 1951, according to preliminary data released by German statistics office Destatis on Thursday.
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The consumer price index–a measure of what consumers pay for goods and services–rose 10.0% in September compared with the same month a year ago measured by national standards, up from 7.9% in August, preliminary data from German statistics office Destatis showed Thursday.
Economists polled by The Wall Street Journal expected inflation to come in at 9.5%. Consumer prices rose 10.9% on year by European Union harmonized standards, above economists’ forecast of 10.2%. Since Russia’s invasion of Ukraine, energy prices have markedly increased and have had a considerable impact on the high rate of inflation, Destatis said. Energy prices rose 43.9% in September year-on-year.
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