German inflation slowed more strongly than expected in September on an annual basis

By: Trademagazin Date: 2024. 09. 30. 11:23

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Inflation in Germany slowed more significantly than analysts had expected in September on an annual basis, according to Monday’s report based on preliminary data from the German Federal Statistical Office, Destatis.

In September, the consumer price index exceeded a year earlier by 1.6 percent. A month earlier, in August, annual inflation in Germany stood at 1.9 percent. The average annual inflation of 1.7 percent was included in the analysts’ opinion for September.

Consumer prices remain unchanged in a monthly comparison, after a 0.1 percent decrease was recorded in August.

In Germany, energy prices fell by 7.6 percent in September compared to a year earlier, after falling by 5.1 percent in August. Meanwhile, food prices rose at an accelerating pace, by 1.6 percent on an annual basis, following the 1.5 percent rise in August. The price increase of services slowed to 3.8 percent from 3.9 percent in August.

Annual core inflation excluding food and energy prices was 2.7 percent in September, after 2.8 percent in August.