German Inflation Rises to 2.2 Percent in August

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German Inflation Rises to 2.2 Percent in August
Photo: Michael Sohn AP/TT

Inflation in Germany, Europe's largest economy, rose to 2.2 percent in August, according to the statistics office Destatis. It is in line with preliminary calculations and market expectations.

In July, the German inflation was at 2.0 percent, according to Destatis. Compared to the previous month, the German consumer prices rose by 0.1 percent in August.

It is mainly higher food prices that drive up the inflation, according to Destatis chief Ruth Brand.

The German figures come after an inflation report from the USA for August came out in line with market expectations on Thursday, which leaves the door open for the USA's central bank Federal Reserve (Fed) to lower the interest rate next week.

Later in the morning, inflation reports from France, the euro zone's next largest economy, will also be released.

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