German annual inflation accelerated in September to 10%, hitting the highest level in more than 70 years, according to final unrevised data from Germany's official statistics agency Destatis.
Annual inflation accelerated sharply in September to 10% from 7.9% in August. This is the biggest increase in German inflation since as far back as 1951, when it rose by nearly 11 percent.
In September, annual energy price growth deepened to 43.9% from 35.6% in August, with a particularly strong growth of 51.8% in household energy bills: fuel oil prices increased more than two times in one year (with 108.4%), and those of natural gas - with 95.1 percent. Consumer electricity prices rose in September by 30.5% after a 16.5% increase in August.
Food prices increased by 18.7% year-on-year after increasing by 16.6% in August. Edible fats and oil (by 49%), as well as dairy products and eggs (by 29.1%) are noticeably more expensive. Consumer prices also increased significantly for meat and meat products (by 19.5%) and for bread and grain products (by 18.5%).