Germany: Harmonized inflation stabilizes in October at near three-year low
November 13, 2019
Harmonized consumer prices rose 0.1% month-on-month in October, swinging from the prior month’s 0.1% fall. The print reflected a rise in the prices of clothing and footwear and miscellaneous goods and services offsetting cheaper food and non-alcoholic beverages as well as softer inflation for alcoholic beverages and tobacco; and housing and utilities.
Harmonized inflation, meanwhile, was stable at September’s 0.9% in October. This marked the joint-lowest reading in nearly three years. Annual average harmonized inflation ticked down to 1.5% in September from 1.6% in the previous month. Lastly, consumer price inflation moderated from 1.2% in September to 1.1%, marking the lowest reading since February 2018, while annual average consumer price inflation inched down from 1.6% in September to 1.5%.
Author: Jan Lammersen, Economist