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German inflation jumps to 1.8%

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Staff Writer |
German inflation jumps
Germany   Energy prices increased 2.3%

Inflation in Germany picked up sharply in August, beating forecasts, led by rising prices for energy and food.

Germany's annual inflation rate, measured by harmonized European Union standards, rose to 1.8% from 1.5% in July, the Federal Statistical Office said Wednesday.

The rise will bolster expectations that eurozone inflation has picked up too, albeit not as markedly as in the region's largest economy.

The European Central Bank - struggling to meet its inflation target of "below, but close to" 2% - is likely to welcome the latest rise in German inflation.

The rise in Germany's annual inflation rate was led by energy and food, as inflation in both categories accelerated in August.

Compared with August 2016, energy prices increased 2.3%, while food prices rose 3%, according to the Federal Statistical Office.

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