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Financial News: German Inflation Lowest Since Early 2018

German Inflation Lowest Since Early 2018

10/30/2019 - 09:42:00 (RTTNews)

(RTTNews) - Germany's inflation slowed for a third straight month in October to its lowest level since early 2018, preliminary data from the Federal Statistical Office showed on Wednesday.

The consumer price index rose 1.1 percent year-on-year following a 1.2 percent increase September. Economists had expected the inflation to ease to 1 percent.

The latest inflation rate was the lowest since February 2018, when it was 1.1 percent.

Energy prices decreased for a second month and at a faster pace of 2.1 percent versus 1.1 percent in the previous month. Food prices rose 1.1 percent after a 1.3 percent increase in September.

On a month-on-month basis, the CPI edged up 0.1 percent in October after remaining unchanged in the previous month. That was in line with economists' expectations.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison purposes, rose 0.9 percent year-on-year, the same rate of growth as in September. Economists had expected HICP inflation to ease to 0.8 percent.

HICP inflation is at the lowest level since November 2016, when it was 0.8 percent.

Compared to the previous month, the HICP climbed 0.1 percent, reversing a similar size fall in September. Economists had expected the index to remain unchanged.

The statistical office is set to release the final results for October inflation on November 13.

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