German inflation cools to 1.6pc in September
German inflation fell to 1.6% in September, according to the Federal Statistical Office, down from August's 1.9% print and in line with preliminary expectations.
11 October 2024 09:08:43
Source: Sharecast
September's slowdown was principally due to a renewed decline in prices of goods, with a sharp decline in energy costs more than offsetting a slight increase in food prices.
At the same time, services inflation ticked 0.1% lower to 3.8%, while excluding volatile food and energy prices, the core inflation rate eased to 2.7% from 2.8% for the lowest reading since January 2022.
On a month-on-month basis, German CPI was unchanged, following a 0.1% fall in August. Elsewhere, the EU-harmonised inflation rate fell 0.1% to 1.8% for the year after dropping below 2% in August.
Reporting by Iain Gilbert at Sharecast.com