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DAX Edges Higher Ahead Of US Inflation Data

September 13, 2022 — 04:52 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - German stocks rose slightly on Tuesday ahead of U.S. inflation data due later in the day that could show the annual inflation rate softening to 8.1 percent in August from 8.5 percent in July.

Closer home, German consumer price inflation accelerated as initially estimated in August, latest figures from Destatis showed.

The consumer price index rose 7.9 percent year-on-year in August, faster than the 7.5 percent increase in July. That was in line with flash data published on August 30.

The harmonized index of consumer prices climbed 8.8 percent year-on-year after an 8.5 percent increase in the prior month. The latest figures confirmed the initial estimate.

The upward trend in inflation was largely driven by increased prices for energy products and food items.

The benchmark DAX was up 47 points, or 0.4 percent, at 13,450 after climbing 2.4 percent the previous day.

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