German inflation rises to 2.2 percent in August

AP News
Posted: Aug 29, 2012 8:52 AM
German inflation rises to 2.2 percent in August

FRANKFURT, Germany (AP) — Annual inflation in Germany rose to 2.2 percent in August from 1.9 percent the month before due to higher fuel prices.

Germany's statistics agency Destatis said Wednesday prices rose 0.3 percent from the month before, according to the common EU consumer price index.

The European Central Bank has said it sees no inflation threat now for the 17-country eurozone as a whole.

Some economists say a rise in inflation in Germany could help solve the eurozone's debt crisis. Under this view, higher prices in Germany would help even out the severe gaps in competitiveness between companies from Germany and those from southern Europe, who are struggling to attract investment and improve economic growth.