Germany's inflation rate,
measured as the year-on-year change in the consumer price index
(CPI), was +1.6% in September 2024. The rate of change in August
2024 was +1.9%, down from +2.3% in July 2024. The last time
inflation was lower than in September 2024 was more than three
years ago, in February 2021, when it was 1.5% higher. "In
particular, further reductions in energy prices slowed inflation
more significantly in September 2024 than in the previous
months. On the other hand, price increases for services, which
are still above average, drove inflation up," said Ruth Brand,
President of the Federal Statistical Office (Destatis).
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