BERLIN (Reuters) – An increasing number of German companies are planning to raise their prices, the Ifo economic institute said on Wednesday, adding that this likely meant inflation was not about to cool.
Ifo said its price expectations index for the coming months stood at 53.5 points in September, up from 48.1 in August.
“Unfortunately, this probably means the wave of inflation isn’t about to subside,” says Timo Wollmershaeuser, head of forecasts at ifo.
German consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year in September. That put inflation at its highest in more than a quarter of a century.
(Writing by Paul Carrel; Editing by Shri Navaratnam)