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Financial News: German Inflation Slows For First Time In 5

German Inflation Slows For First Time In 5 Months

10/30/2017 - 09:22:00 (RTTNews)

(RTTNews) - Germany's inflation eased for the first time in five months in October and at a faster pace than expected, preliminary data from the Destatis showed Monday.

The consumer price index rose 1.6 percent year-on-year following 1.8 percent climb in September. Economists had forecast 1.7 percent inflation. A similar rate was previously seen in June.

Inflation slowed for the first time since May, when it fell to 1.5 percent from 2 percent.

Energy inflation more than halved to 1.2 percent from 2.7 percent. In contrast, food inflation climbed to 4.3 percent from 3.6 percent.

On a month-on-month basis, the CPI was unchanged from September, while it was expected to edge up 0.1 percent.

The harmonized index of consumer prices, or HICP that is meant for EU comparison, rose 1.5 percent year-on-year after a 1.8 percent increased in each of the previous two months. Economists had forecast 1.7 percent inflation.

The HICP inflation also eased for the first time in five months.

Compared to the previous month, the HICP fell 0.1 percent in October, in contrast to economists' expectations for a 0.1 percent gain.

Destatis is set to release detail data for October inflation on November 14.

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