Germany's inflation rate rose to 2.9% in August, and expectations for the European Central Bank to raise interest rates in September have increased

Consumer prices in Germany increased by 2.9% year-on-year in August, higher than the 2.8% in July, with energy prices being the main driving factor. Primoz Dolenc, a member of the European Central Bank's Governing Council, stated that the reasons for a September rate hike already exist.