German consumer prices rose 3.3% year-on-year in September, preliminary data showed, topping the 3.2% forecast and up from 2.9% in August. Energy costs tied to the Iran war drove the increase, while core inflation held steady. The euro zone's own September inflation print lands Friday.
Germany's annual inflation rate climbed to 3.3% in September, preliminary data from the federal statistics office showed Wednesday, edging past the 3.2% forecast from analysts polled by Reuters. The reading marks a jump from 2.9% in August.
The acceleration follows the same pattern seen in other large euro zone economies this month, as the energy price shock of the Iran war pushed costs higher across the currency bloc.
Energy costs lead the increase
Energy inflation rose to 14.9% in September, up from 10.5% in August. Core inflation, which strips out volatile energy and food prices, stayed unchanged at 2.4% for a third straight month.
Euro zone print due Friday
Germany's consumer price index release comes ahead of the euro zone's own September inflation figure, due Friday. Economists polled by Reuters expect euro zone inflation at 3.6%, up from 3.2% in August.
Source: Investing.com
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