German Inflation At 11-month Low
30 Enero 2019 - 2:28AM
RTTF2
Germany's headline consumer price inflation slowed
more-than-expected to its lowest level in nearly a year in January,
preliminary data from the Federal Statistical Office showed on
Wednesday.
The consumer price index rose 1.4 percent year-on-year following
a 1.7 percent increase in December. Economists had forecast an
inflation rate of 1.6 percent.
On a month-on-month basis, the CPI fell 0.8 percent in January,
in line with economists' expectations. Prices edged up 0.1 percent
in November.
The harmonized index of consumer prices, which is meant for EU
comparison, rose 1.7 percent year-on-year in January, the same pace
as in December.
Compared to the previous month, the HICP decreased 1 percent in
January.
The statistical office reported earlier on Wednesday that
Germany's import price inflation eased sharply in December to 1.3
percent, its lowest level in eight months.
The statistical office is set to release the final CPI and HICP
data for January on February 21.
The German economy likely avoided a technical recession in the
fourth quarter, the economy ministry has said. The manufacturing
sector is also expected to pick-up steam once the dampening impact
from the implementation of the WLTP emission tests gets over.
Survey data from the market research group GfK showed on
Wednesday that Germany's consumer confidence is set to improve in
February, defying expectations for a modest easing.
The forward-looking GfK consumer confidence indicator for
February rose to 10.8 from a revised 10.5 in January. Economists
had forecast a score of 10.3.
Income expectations and propensity to buy improved further,
while households assessed the general economic outlook less
optimistically for a fourth straight month.
Encouraged by a good start to the year, the GfK predicted an
increase of 1.5 percent in private consumption in Germany this
year.
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