German Consumer Prices Fall In September

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Germany’s consumer prices declined in September largely due to the reduction in the value added tax, flash estimate from Destatis showed Tuesday.

Consumer prices dropped 0.2 percent on a yearly basis after staying flat in August. Prices were expected to drop 0.1 percent.

Month-on-month, consumer prices fell 0.2 percent versus a 0.1 percent decrease in August. Final data is due on October 13.

Data showed that goods prices decreased 1.7 percent annually, while cost of services gained 1 percent.

The harmonized index of consumer prices decreased 0.4 percent annually versus a 0.1 percent drop a month ago. On a monthly basis, the HICP slid 0.4 percent after easing 0.2 percent in August.

Data released earlier in the day the debt owed by the overall public budget to the non-public sector totaled EUR 2,108.9 billion at the end of the first six months of 2020. That was the highest debt ever determined for the debt statistics.

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