German Inflation Slows In August

(RTTNews) - Germany's annual inflation, measured under the EU methodology, slowed in August, preliminary data released by statistical office Destatis showed Monday.

The harmonized index of consumer prices (HICP) increased 2.4 percent annually in August, slower than the 2.6 percent growth seen in July. Economists were expecting an inflation rate of 2.5 percent.

On a monthly basis, the HICP dropped 0.1 percent in August, after growing 0.5 percent in the previous month. Economists expected prices to reaming unchanged.

At the same time, the consumer price index (CPI) grew 2.3 percent year-on-year in August, following July's 2.4 percent growth. Economists had forecast a 2.3 percent rise.

Month-on-month, the CPI decreased 0.1 percent, reversing the previous month's 0.4 percent increase. The monthly variation matched economists expectations.

The final data for August will be released on September 9, the agency said.

read more news at forex trader