german inflation inches up in august preliminary data
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

German inflation inches up in August: preliminary data

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleGerman inflation inches up in August: preliminary data

The pace of inflation in Germany increased slightly in August
FRANKFURT AM MAIN - AFP

The pace of inflation in Germany increased slightly in August, preliminary official figures showed Wednesday, inching closer towards the European Central Bank's eurozone-wide target.

Consumer prices rose by 1.8 percent year-on-year this month in Europe's largest economy, federal statistics authority Destatis reported.

August's rate of price growth was 0.1 percentage points higher than in July, in line with predictions from analysts surveyed by data company FactSet.

Using the ECB's preferred yardstick, the Harmonised Index of Consumer Prices, inflation picked up 0.2 percentage points compared with July's level to reach 1.8 percent.

That pace is near the Frankfurt-based institution's target of close to, but below 2.0 percent for the whole 19-nation euro area.

Looking at the different elements of the consumer price basket, growth in energy and food costs sped up, with energy inflation hitting 2.3 percent after a slump to zero in June.

Meanwhile, price growth in services including home rents slowed, while the cost of goods increased slightly faster in August than in July at 2.0 percent.

The ECB's mass bond-buying programme and historic low interest rates are designed to encourage lending, promoting growth and driving inflation towards the bank's target.

Central bank chiefs have in recent months highlighted the importance of core inflation -- excluding volatile food and energy costs -- as a measure of the effectiveness of their easy-money policy.

"The core rate in Germany might rise further given the continued strength of German GDP growth and the fact that the economy is already operating at around capacity," Capital Economics analyst Jennifer McKeown commented on regional inflation data released earlier Wednesday.

"But some of the pressure on inflation will be offset by the recent rise in the euro exchange rate," she added.

With inflation across all 19 eurozone members at just 1.3 percent last month, the central bank remains far from its target -- meaning its interventions in the economy are likely to be wound down only slowly in the coming months and years.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german inflation inches up in august preliminary data german inflation inches up in august preliminary data

 



Themuslimchronicle, themuslimchronicle

GMT 08:32 2011 Monday ,25 July

Sabri accuses Yusri in Souad Hosni’s murder

GMT 12:07 2014 Monday ,03 February

Home design ideas

GMT 11:20 2017 Thursday ,02 March

Mexico central bank cuts growth outlook over Trump

GMT 08:31 2017 Tuesday ,28 November

Bangladesh upholds death sentence for 139 soldiers

GMT 14:33 2017 Thursday ,20 April

US defense secretary vows support for Egypt's Sisi

GMT 16:12 2017 Wednesday ,20 December

Myanmar bars UN rights investigator just before visit

GMT 08:21 2017 Wednesday ,30 August

United Technologies near deal to buy Rockwell Collins

GMT 18:27 2017 Friday ,21 April

ARCO condemns targeting of ERC convoy in Somalia

GMT 07:23 2017 Tuesday ,21 November

perched in Jerusalem's hills may soon vanish

GMT 19:33 2017 Tuesday ,10 October

US scientists engineer corn to boost protein

GMT 08:43 2017 Monday ,04 December

Brexit deal 'difficult but doable': diplomats

GMT 11:24 2017 Friday ,03 March

Lego honors 'Women of NASA'

GMT 11:35 2017 Tuesday ,05 December

Bahrain's top Shiite cleric hospitalised

GMT 21:39 2017 Saturday ,30 September

Abdel Karim praises Egypt’s role

GMT 10:11 2017 Tuesday ,12 December

Latest Grateful Dead resurrection -- a duo

GMT 15:43 2017 Monday ,04 December

Yemen's Huthi rebels claim ex-president Saleh killed

GMT 15:59 2017 Thursday ,30 November

Bahrain Bourse daily trading performance
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle