German HICP Up 2.2% In August

German HICP Up 2.2% In August - Germany's inflation, measured by the harmonized index of consumer prices (HICP), rose to 2.2 percent in August from 1.9 percent in July, final data released by the Federal Statistical Office confirmed Wednesday.

Month-on-month, the HICP moved up 0.4 percent in July, revised from the 0.3 percent rise estimated in the preliminary report.

At the same time, the consumer price index (CPI) climbed 2.1 percent year-on-year in August, up from July's 1.7 percent. This was slightly above the flash estimate of 2 percent.

On a monthly basis, prices rose 0.4 percent, revised from the earlier estimate of a 0.3 percent increase.

In August, the rate of inflation was mainly determined by the development of energy prices, the statistical office said. Energy prices increased 7.6 percent annually while the CPI excluding energy was just 1.4 percent higher than last year.

German HICP Up 2.2% In August Source: InstaForex