German inflation accelerates in August, but less than expected

Inflation in Germany accelerates in August, although less than expected. According to what the statistics institute underlines, Destatis grew by 2.9% compared to 2.8% in July and 2.3% in June, driven by the increase in energy prices (+10.5% compared to +8.3% in July). Analysts had expected a growth in the price index of 3.1%. Excluding energy and food (which rose only 0.1%) the index saw growth of 2.4%.