In Germany, the annual inflation rate in September was recorded at 1.6 percent. The Federal Statistical Office of Germany (Destatis) released the final data on price increases for the month of September. The annual inflation rate, which stood at 1.9 percent in August, decreased to 1.6 percent in September. This marks the lowest level of annual inflation in the country since January 2021, confirming the preliminary data released on September 20. The EU-harmonized Consumer Price Index (CPI) increased by 0.1 percent compared to the previous month and by 1.8 percent on an annual basis in September. In Germany, where energy and food have been the most significant “price determinants” for months, food prices increased by 1.6 percent on an annual basis in September, while energy prices decreased by 7.6 percent. The annual inflation rate, excluding energy prices, was calculated at 2.5 percent in September. Ruth Brand, the President of Destatis, commented on the data by stating, “The renewed decrease in energy prices in particular has further reduced the inflation rate in September 2024 compared to previous months. On the other hand, the continued above-average increase in service prices creates an inflationary impact.” In its growth report published on September 9, the German government revised its inflation forecasts downward by 0.2 percentage points. It predicted that inflation, which was 5.9 percent last year, would drop to 2.2 percent this year and to 2 percent in 2025. Inflation is projected to be at 1.6 percent in 2026.