Rising oil prices fuel German inflation
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Inflation in Germany, the eurozone's biggest economy, picked up to 2.0 percent last month from 1.8 percent in July as a result of high oil prices, official data showed.
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High oil prices dealt Germany&#39;s economy an unexpectedly severe blow in the third quarter, data showed on Thursday, leading economists to trim their growth forecasts for the 12-nation euro zone.
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: The OPEC price band for crude oil should be raised to reflect inflation since 2001 and the falling US dollar, Purnomo Yusgiantoro, Indonesia&#39;s oil minister and secretary general of the Organization of Petroleum Exporting Countries
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In another report, import prices excluding petroleum posted the largest increase in 10 months, a possible early warning on inflation from the weaker dollar.
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Higher oil prices pushed up inflation in the UK and sent factory prices in the US to a 15-year high, according to official figures released on both sides of the Atlantic yesterday.
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Germany's producer price inflation has risen by its lowest annual rate in just over two years, official figures shows.
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The German finance minister, Hans Eichel, today warned that global growth would be at risk if oil prices remained at their current levels.
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Consumer prices jumped 3.3 percent last year as the biggest surge in fuel bills in 14 years pushed up inflation at the fastest pace since 2000, the government reported Wednesday.
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European inflation is confirmed at a six year high on high food prices.
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Prices of goods imported into Germany continued to race ahead in September, driven by rising oil and raw materials prices, data published by the federal statistics office, Destatis, showed.
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Widespread German price increases, including those of butter and electricity, are starting to weigh heavily on consumer confidence, a monthly poll by the GfK institute showed Friday.
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BEIJING : Rising energy and raw material prices are pressuring inflation and will push up the consumer price index next year, state press cited the country&#39;s top statistician as saying.
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Higher oil and food prices push up inflation in the eurozone to its highest in more than six years.
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FRANKFURT - Surging oil prices and the strength of the euro, currently at an all-time high around 1.32 dollars, are currently weighing on business morale in Germany, the eurozone&#39;s biggest economy, a new poll showed.
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WASHINGTON -- Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas.
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Inflation at the consumer level rose by a larger-than-expected amount last month as falling energy prices only partially offset big increases in the cost of medical care, food, and airline tickets.
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German inflation slowed marginally to 1.8 percent in June from 1.9 percent a month ago due to smaller increases in energy rates and falling prices of selected foodstuffs, final consumer price data showed on Monday.