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Financial News: Germany Inflation Holds Steady At 4-month High

Germany Inflation Holds Steady At 4-month High

09/28/2017 - 08:24:00 (RTTNews)

(RTTNews) - Germany's inflation remained unchanged at its highest level in four months in September, preliminary data from Destatis showed Thursday.

The consumer price index rose 1.8 percent year-on-year, same as in August, and in line with economists' expectations.

The inflation rate is the highest since April, when it was 2 percent.

Energy inflation accelerated to 2.7 percent from 2.3 percent and the price growth rate for food climbed to 3.6 percent from 3 percent.

Meanwhile, the inflation rate for services including rents remained steady at 1.7 percent.

Compared to the previous month, the CPI edged up 0.1 percent in September and matched economists' consensus.

The harmonized index of consumer prices, or HICP, also rose 1.8 percent year-on-year in September, same as in the previous month. Economists had forecast a slightly higher figure of 1.9 percent.

The figure is also highest since April, when the inflation rate was 2 percent.

On a month-on-month basis, the HICP remained unchanged in September, while economists had expected a modest 0.1 percent climb.

Destatis is set to release the final figures on October 13.

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