Economic Buzz: German inflation confirmed at 2.9% in August

The annual inflation rate in Germany came in at 2.9% in August, the Federal Statistical Office (Destatis) confirmed in its final report released on Thursday. The figure was slightly higher than the 2.8% observed in July and matched the preliminary report.

On a monthly basis, the Consumer Price Index (CPI) rose by 0.2% in the reported month, while the harmonized index of consumer prices was also up 0.2%. On an annual basis, the harmonized CPI rose by 2.9%. All of the figures came in line with the preliminary data. Meanwhile, core inflation, which excludes food and energy, climbed by 2.4% year-over-year and by 0.1% month-over-month.

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