Germany inflation drops below 2 pct. since 2021

German inflation fell on August to its lowest level in three years, as the inflation rate was 1.9 percent on the same month last year, the Federal Statistic office reported, Tuesday. Report by the office shows that in August the decline was due to Germany energy prices dropping to 5.1 percent, services by 3.9 percent, and food prices by 1.5 percent, compared to August 2023. It also reported, inflation rate in July was 2.3 percent and in June 2.2 percent marking it as positive decline in prices. Due to Ukraine-Russia war energy prices began to rise in 2022, which led to cut off energy supplies to Germany, in which the country was dependent on it. With the European Union's heavily populated countries' prices have risen by more than 10 percent which was weighing on its consumer. Source: Kuwait News Agency