Inflation in Germany slowed down during October
According to the Federal Statistical Office of the region, the indicator of consumer prices of goods and services was 1.1% during the past month
The annual inflation rate of consumer prices of goods and services in Germany slowed down even further in October and stood at 1.1%, the Federal Statistical Office (Destatis) announced today to confirm preliminary data.
In September, the inflation rate was 1.2% and in August 1.4%. The decrease in prices in the energy sector, of 2.1%, slowed the positive inflation curve.
In particular, the fuel and light heating diesel became significantly cheaper. Compared to September 2019, consumer prices generally increased slightly, by 0.1%.
The inflation rate is an important indicator for the monetary policy of the European Central Bank (ECB). The issuing bank aims to keep inflation stable in the 19 eurozone countries, at levels slightly below 2.0% per year.
Permanently low or decreasing prices in various sectors can lead companies and consumers to postpone investments, which slows down the economy.
K. Tovar
Source: dpa
