German inflation turns negative in September for first time in eight months

German inflation turns negative in September for first time in eight months

BERLIN (Reuters) – German annual inflation turned negative in September for the first time in eight months, preliminary data from the Federal Statistics Office showed, undershooting the consensus forecast for consumer prices in Europe's largest economy to stagnate.

German prices harmonised to compare with other European countries fell by 0.2 percent – the weakest reading since January – after a 0.1 percent rise in August, data showed on Tuesday.

The reading was well below the European Central Bank's inflation target for the whole euro zone of just below 2 percent. Economists had expected it to slow to 0.0 percent.

The statistics office said it would publish final consumer price data for September on Oct. 13.

(Reporting by Michelle Martin; editing by David Stamp)

Source: “Reuters”