Notizie economiche
30.09.2024

Germany’s annual CPI rises 1.6 per cent in September

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.

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