German Consumer Prices Fell in December in Line with Forecasts
January 19 2021 - 2:35AM
Dow Jones News
By Maria Martinez
German consumer prices declined further in December on the year,
confirming preliminary data, German statistics agency Destatis said
Tuesday.
On a year-on-year basis, consumer prices fell 0.3% measured by
national standards, in line with the drop expected by economists
polled by The Wall Street Journal.
Consumer prices declined 0.7% year-on-year by EU-harmonized
standards, as expected by economists polled by The Wall Street
Journal.
The inflation rate was partly influenced by the value-added-tax
reduction effective at the beginning of July, the statistics office
said. The temporary VAT cut will be reversed in January.
As an annual average, the inflation rate is expected to stand at
0.5% in 2020, Destatis said.
Consumer prices rose 0.5% on month by national standards and
0.6% by EU-harmonized standards. This met projections by economists
polled by The Wall Street Journal.
Write to Maria Martinez at maria.martinez@wsj.com
(END) Dow Jones Newswires
January 19, 2021 02:20 ET (07:20 GMT)
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