Germany’s most populous state sees biggest inflation jump in decades

Germany’s most populous state sees biggest inflation jump in decades By Reuters

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Economy 11 minutes ago (Sep 29, 2022 03:06AM ET)

(C) Reuters. FILE PHOTO: The European Central Bank (ECB) presents the new 50 euro note at the bank’s headquarters in Frankfurt, Germany, July 5, 2016. REUTERS/Ralph Orlowski

BERLIN (Reuters) – German inflation likely grew significantly in September based on initial data from its most populous state, which saw the biggest jump since the early 1950s, according to its statistics office.

The state of North Rhine Westphalia saw inflation rise 10.1% year-on-year in September, mainly due to higher costs for goods and services after a cheaper transport ticket and fuel tax cut expired at the end of August.

The federal statistics office will publish a flash estimate for nationwide September inflation later Thursday.

Analysts polled by Reuters expect EU-harmonized consumer prices (HICP) to increase by 10% on the year in September.

Germany’s most populous state sees biggest inflation jump in decades

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