German inflation was at its highest in more than a quarter of a century in September, driven by high energy prices, data showed, as analysts warned that the energy crisis has yet to make itself fully felt, APA reports citing Reuters.
Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said.
That was the highest reading since comparable data going back to 1996.
The increase was due to higher costs for energy - which were 43.9% higher compared with September 2021 - after a popular cheap transport ticket offer and a fuel tax cut expired at the end of August.
That jump in energy costs was less than expected, said DWS bank's Ulrike Kastens, which indicates that a large proportion of the prices increase announced by utilities have not yet shown up. "But this is only a question of time," added Kastens.