German Inflation Rises to 3.3% in September, Topping Forecasts on Energy Price Shock

German inflation accelerated to 3.3% year-on-year in September, exceeding analyst expectations, preliminary data from the federal statistics office showed Wednesday. Analysts polled by Reuters had forecast the EU-harmonised consumer price index at 3.2%, up from 2.9% the prior month. Energy inflation surged to 14.9% from 10.5% in August, driven by the energy price shock of the Iran war. Core inflation, excluding volatile energy and food prices, held steady at 2.4% for a third consecutive month. The data precedes Friday's euro zone inflation release, with economists polled by Reuters expecting the bloc's rate to rise to 3.6% in September from 3.2% the previous month. The German reading follows similar acceleration in other major euro zone economies.