Germany’s inflation rate falls to lowest level in 3 years

Data from Germany’s Federal Statistical Office confirmed today that the country’s consumer price inflation rate fell last month to its lowest level in more than 3 and a half years.

The statistics office stated that the consumer price index rose by 1.6% annually in September, compared to 1.9% in August, which was in line with initial estimates issued on September 30.

At the same time, the data showed that the inflation rate fell to its lowest level since February 2021, when it recorded 1.5% annually.

An increase of 1.5% during the previous month.

The data showed that commodity prices fell by 0.3%, while service prices increased by 3.8% annually. On a monthly basis, the consumer price index remained unchanged last month, which was in line with initial estimates. The inflation rate in Germany, according to the European Union’s unified index, reached 1.8% annually, compared to 2% in August, while the monthly inflation rate, according to this index, reached -0.1%, the same rate recorded in the month before last. Economists expect inflation in Germany to continue to decline.