Inflation in Germany unexpectedly decreased to 2% in August.

Inflation in Germany unexpectedly decreased to 2% in August.
Inflation in Germany unexpectedly decreased to 2% in August.
  • Preliminary data from the German statistics office Destatis revealed that the harmonized German consumer price index decreased to 2% in August.
  • The 2.3% forecast in a Reuters poll of analysts was exceeded by this.

Preliminary data from the German statistics office Destatis revealed that the harmonized German consumer price index decreased to 2% in August, lower than anticipated by analysts.

In July, the annual harmonized CPI figure was 2.6%, higher than the Reuters poll forecast of 2.3%.

On a monthly basis, harmonized CPI dipped by 0.2%.

Harmonized inflation readings are ensured in the euro area and European Union for comparability purposes.

In August, energy costs dropped by 5.1% annually, while core inflation, excluding energy and food costs, was 2.8%, slightly lower than the 2.9% recorded in the same period last year.

On Thursday, several major German states announced easing inflation earlier in the day. This information is released a day before the euro area inflation figures are due.

This is a breaking news story and will be updated.

by Sophie Kiderlin

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