Germany's Inflation Holds Firm at 2.9% Amid Core Price Pressures

Germany's inflation rate held steady at 2.9% in August, matching economists' forecasts and echoing July's reading, according to data released by the Federal Statistical Office (Destatis).

The annual inflation rate, which measures the change in consumer prices over a year, stayed unchanged from July, despite a recent decline in energy costs.

Core inflation, which excludes volatile food and energy prices, remained elevated at 3.2% year-on-year, underscoring that underlying price pressures are still strong.

The data comes ahead of the European Central Bank's (ECB) next policy meeting in September, where interest rate decisions will be closely watched.