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Financial News: Germany Inflation At 8-Month Low, Weaker Than Expected

Germany Inflation At 8-Month Low, Weaker Than Expected

12/28/2018 - 08:53:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation slowed sharply in December to its lowest level in eight months, figures from the Federal Statistical Office showed on Friday.

The consumer price index rose 1.7 percent year-on-year following a 2.3 percent increase in November. Economists had forecast an inflation rate of 1.9 percent.

The latest inflation figure was the lowest since April, when price growth was 1.6 percent, same as in March.

Compared to the previous month, the CPI edged up 0.1 percent in December, which was less than the 0.3 percent gain economists' had predicted.

The annual average inflation was 1.9 percent in 2018, the agency said. Inflation accelerated from 1.8 percent in 2017 and was the highest since 2012, when it was 2 percent.

The harmonized index of consumer prices, or HICP, rose 1.7 percent year-on-year following a 2.2 percent increase in November. Economists had forecast 1.9 percent inflation.

The latest HICP inflation was also the lowest since April, when it was 1.4 percent.

Compared to the previous month, the HICP moved up 0.3 percent in December. Economists had forecast a 0.4 percent gain.

The annual average HICP inflation climbed to 1.9 percent this year from 1.7 percent in 2017. The figure was the highest since 2012, when inflation was 2.1 percent.

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