German inflation up to 2.6 pct in September

BERLIN (AP) - September 28, 2011

The Federal Statistical Office said Wednesday that inflation was propelled by higher costs of oil-based products and by higher clothing prices as the new season's collections were introduced.

The annual rate was up from 2.4 percent in August. The statistical office estimates that prices were up 0.1 percent in month-on-month terms.

Data from Germany, Europe's biggest economy, are important as the European Central Bank decides whether to change interest rates for the 17-nation eurozone.

The ECB has raised rates twice this year to combat above-target inflation but now faces pressure to cut rates amid signs the eurozone economy could slide into recession.

Copyright © 2021 WPVI-TV. All Rights Reserved.