Germany's
Federal Statistical Office (Destatis) announced on Monday the country’s
consumer price index (CPI) is estimated to be unchanged m-o-m in September after dropping 0.1 per cent m-o-m in August.
On a y-o-y
basis, Germany’s CPI is seen to increase by 1.6 per cent in September, following a 1.9 per cent jump in the
previous month. That
would mark the weakest
annual increase since February 2021 (+1.5 per cent).
Economists had forecast
CPI would advance 0.1 per cent m-o-m and 1.7 per cent y-o-y in September.
According to
the report, energy prices tumbled by 7.6 per cent y-o-y this month, following a decline of 5.1 per cent y-o-y in August.
Meanwhile, the food prices rose 1.6 per cent y-o-y, accelerating from a 1.5 per cent y-o-y soar in
the previous month. The services costs surged by 3.8 per cent y-o-y, decelerating
from 3.9
per cent y-o-y in August.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is estimated to slip by 0.1 per cent m-o-m and climb by 1.8 per cent
y-o-y (the least since February 2021 (+1.6 per cent y-o-y)). Economists had predicted
a 1.9 per cent y-o-y gain for September. In August, the German HICP fell by 0.2
per cent m-o-m and surged by 2.0 per cent y-o-y.