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German CPI rose by 0.1% in September

Thursday, Oct 13 2016
German CPI rose by 0.1% in September

Consumer prices in Germany were 0.7% higher in September 2016 than in September 2015. The inflation rate - as measured by the consumer price index - thus has gradually increased in the second half of the year. In July and August 2016, it had been +0.4% each. An inflation rate of +0.7% was last recorded in May 2015. Compared with August 2016, the consumer price index rose just slightly by 0.1% in September 2016. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 29 September 2016.

The development of energy prices (–3.6% on September 2015) had a downward effect on the overall rise in prices in September 2016, as had been the case in the preceding months. Compared with the previous two months, the decrease of energy prices slowed slightly year on year (July 2016: –7.0%, August 2016: –5.9%). In September 2016, the prices of both motor fuels (–3.5%) and household energy (–3.7%) for consumers were down on a year earlier. Among the household energy products, the price decrease was largest for heating oil (–12.5%). Decreases were also recorded for charges for central and district heating (–8.1%), gas prices (–3.2%) and solid fuel prices (–0.8%). Only electricity prices rose on the same month a year earlier (+0.7%). Excluding energy prices, the inflation rate in September 2016 would have been +1.2%.

 

Euro is currently being traded around 1.1020 level. Pair is likely to find support around 1.10 handle and resistance above 1.1060 area.

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