According to the preliminary data of Destatis, Germany’s consumer prices, calculated by the EU standards, rose by 0.3% year-on-year.
From July, prices edged down by 0.1%.
Consumer prices, measured by national standards, rose by 0.4% in August on year and remained unchanged from the previous month. Meanwhile, economists had expected a rise by 0.5% and by 0.1%, respectively for the two standards of measuring.
Analysts also note that sluggish growth of Germany’s consumer prices can affect the European Central Bank’s monetary policy stance. In case the period of low inflation is longer than expected, ECB head Mario Draghi will expand the bank’s stimulus program.
Overall, annual eurozone inflation stood at the level of 0.3% in August from 0.2% in July.
