Financial News: German Inflation Slows To 6-Month Low As Estimated

German Inflation Slows To 6-Month Low As Estimated

(RTTNews) - Germany's consumer price inflation softened to a six-month low in April on falling energy prices, as initially estimated, final data from Destatis showed on Wednesday.

The consumer price index rose 2.1 percent year-on-year, following a 2.2 percent increase in March. The rate came in line with the initial estimate.

Core inflation which excludes prices of food and energy climbed for the first time in four months, rising to 2.9 percent in April from 2.6 percent in March.

Inflation based on the harmonized index of consumer prices slowed for a third month in a row in April. HICP inflation eased to 2.2 percent, as estimated, from 2.3 percent in March.

Energy prices dampened inflation, while rising food prices continued to drive inflation in April. Energy prices were 5.4 percent lower than in April last year. By contrast, food prices advanced 2.8 percent from a year ago.

Services inflation accelerated to 3.9 percent from 3.5 percent in March. Meanwhile, the increase in prices of goods halved to 0.5 percent from 1.0 percent in the previous month.

The CPI rose 0.4 percent month-on-month in April after a 0.3 percent increase in March. The HICP climbed 0.5 percent following a 0.4 percent rise in March. Both monthly rates matched the initial estimates.

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