German inflation rises to highest
Photo: Stephanie Scarbrough/AP/TT

German inflation rises to highest level since last spring as ECB rate hike bets grow

German inflation is now rising to its highest level since last spring. The likelihood of an interest rate hike by the European Central Bank (ECB) is now growing.

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The August figure of 2.9 percent year-on-year showed an increase compared with the previous month (2.8 percent). Although the figure was lower than the market's average expectation (3.0 percent, according to Bloomberg), it points to increased inflationary pressure in Europe's largest economy.

Above all, the rise in inflation is linked to higher energy prices as a consequence of the war in Iran.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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