German Consumer Prices Continue To Fall
Germany’s consumer prices kept falling at the end of the year 2020, preliminary data from Destatis showed on Wednesday.
The consumer price index dropped 0.3 percent year-on-year in December, same as in November. That was in line with economists’ expectations.
Compared to the previous month, consumer prices rose 0.5 percent after a 0.8 percent slump in November. Economists were looking for a 0.6 percent increase.
The harmonized index of consumer prices, which is meant for EU comparison, decreased 0.7 percent year-on-year, same as in November. Economists had forecast a 0.6 percent fall.
On a monthly basis, the HICP rose 0.6 percent in December after a 1 percent drop in the previous month. Economists had predicted a 0.7 percent gain.
The pace of annual decline in energy prices eased to 6 percent from 7.7 percent. The rate of growth in food prices slowed to 0.5 percent from 1.4 percent.
On an annual average, the CPI Inflation was 0.5 percent and the HICP inflation was 0.4 percent in 2020.