Germany’s inflation reaches 8% in August

Annual inflation in Germany hiked in August by eight percent driven by sharp increases in energy and food products prices, Federal Statistical Office announced on Tuesday.

This increase came after two months of decrease due to short-term government programs to reduce the consumer burden in the transport sector.

The highest price increases have been seen in the energy sector at a staggering 35.6 percent and food prices grow by 16.6 percent.

The annual inflation reading in the last month was in line with expectations of analysts polled by Reuters.

Consumer prices in Europe’s largest economy were mostly driven by the soaring cost of energy and food, lifting inflation 0.4 percentage points from July despite recent government measures to cushion the blow for households.