German Consumer Prices Fell Again in November
By Maria Martinez
German consumer prices declined further in November, according
to preliminary data released by the German statistics office
Destatis on Monday.
On a year-on-year basis, consumer prices fell 0.3% measured by
national standards, more than the 0.2% drop expected by economists
polled by The Wall Street Journal. Consumer prices declined 0.7%
year-on-year by EU-harmonized standards, also more than the 0.4%
drop expected by economists polled by The Wall Street Journal.
Among others things, the inflation rate was influenced by the
value-added-tax reduction effective at the beginning of July, the
statistics office said.
Consumer prices decreased 0.8% on month by national standards
and fell 0.7% by EU-harmonized standards. Economists polled by The
Wall Street Journal had forecast prices would fall 0.7% by national
standards and 0.8% by EU-harmonized standards on month.
Final results for November will be released on Dec. 11.
Write to Maria Martinez at email@example.com
(END) Dow Jones Newswires
November 30, 2020 08:24 ET (13:24 GMT)
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