Germany's
Federal Statistical Office (Destatis) reported on Thursday the country’s
consumer price index (CPI) is estimated to drop 0.1 per cent m-o-m in August after increasing 0.3 per cent m-o-m in July. That would mark
the first monthly
decrease in the index since November 2023 (-0.4 per cent m-o-m).
On a y-o-y
basis, Germany’s CPI is seen to climb 1.9 per cent in August, following a 2.3 per cent surge in the
previous month. That
would be the weakest annual increase since March 2021 (+1.8
per cent).
Economists had predicted CPI would rise by 0.1 per cent m-o-m and by 2.1 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 decline by 0.2 per cent m-o-m and soar by 2.0 per
cent y-o-y (the least since March 2021 (+2.0 per cent y-o-y)). Economists had forecast
a flat m-o-m performance and a 2.3 per cent y-o-y surge
for August. In July, the German HICP jumped by 0.5 per cent m-o-m and 2.6 per cent y-o-y.