Germany: Annual HICP Drops to -0.4% in September

Inflation in Germany, as measured by the Consumer Price Index (CPI), was 0.1% (preliminary) in October, the data published by Destatis showed on Thursday. This reading followed September’s print of -0.2% and came in higher than the market expectation of 0%. On a yearly basis, the CPI stayed unchanged at -0.2%.

Further details of the publication revealed that the Harmonized Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, declined to -0.5% in October from -0.4% on a yearly basis. This print missed analysts’ estimate of -0.4%.