German inflation tops 3-year high in September: data

13th October 2011, Comments 0 comments

Inflation in Germany topped a three-year high at 2.6 percent in September, owing to rising energy costs, final data showed Thursday.

At 2.6 percent on a 12-month basis, the headline inflation figure for the eurozone's largest economy was the highest since September 2008 and up on the 2.4 percent recorded in August, the national statistics office Destatis said.

On a monthly basis, consumer prices rose by 0.1 percent in September.

As in previous months, rising energy costs, in particular for heating and motor fuels, drove the increase.

Using the EU's Harmonised Index of Consumer Prices or HICP, which is the European Central Bank's inflation yardstick, the cost of living in Germany rose 2.9 percent on a 12-month basis in September and by 0.2 percent month-on-month.

The European Central Bank aims to keep inflation close to but below 2.0 percent.

© 2011 AFP

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