German Consumer Prices Fell in October on Year
By Maria Martinez
Preliminary data shows German consumer prices declined in
October on year, German statistics office Destatis said
Year-on-year, consumer prices fell 0.2% measured by national
standards, less than the 0.3% drop expected by economists polled by
The Wall Street Journal. Consumer prices declined 0.5% on
EU-harmonized standards year-on-year, in line with forecasts.
Among others things, the inflation rate has been influenced by
the value added tax reduction effective at the beginning of July,
the report said.
Consumer prices increased 0.1% on month by national standards
and remained flat in EU-harmonized standards. Economists polled by
The Wall Street Journal had forecast that prices would remain flat
on both national standards and EU-harmonized standards on
Final results for October will be released on Nov. 12.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
October 29, 2020 09:30 ET (13:30 GMT)
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