German inflation at 1.3 percent in September: statistics

12th October 2010, Comments 0 comments

German consumer prices slipped 0.1 percent in September from the previous month, but gained 1.3 percent on an annualised basis, final figures released Tuesday by the national statistics office showed.

The figures confirmed a previous estimate and showed inflation was under control in Europe's biggest economy, though the 12-month rate was higher than that in August of 1.0 percent and the July level of 1.2 percent.

"The upward price trend became slightly stronger again in September," the Destatis office noted, though inflation remained well below the European Central Bank target of just under 2.0 percent.

German energy prices gained 4.6 percent in general from the level in September 2009, while food cost 3.0 percent more, Destatis said as it identified those two categories as main drivers of the overall increase.

Germany has pulled out of its deepest post-war recession, has seen a steady fall in unemployment and is expected to record growth of around 3.0 percent in 2010.

© 2010 AFP

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