Germany’s CPI inflation confirmed at 1.6% in September

Annual consumer price inflation in Germany has been confirmed at 1.6% in September, a final estimate by the Federal Statistical Office showed.

It has been the lowest CPI inflation reading since February 2021.

Energy costs plummeted 7.6% YoY in September after a 5.1% decline in August, while food prices went up 1.6% YoY after another 1.5% surge in August.

In the meantime, services inflation eased to 3.8% in September from 3.9% in the prior month.

Germany’s annual core CPI inflation, which excludes volatile categories such as food and energy, decelerated to 2.7% in September from 2.8% in August. It has been the lowest rate since January 2022.

The EUR/USD currency pair settled with little change at 1.0935 on Friday. For the week, the major currency pair went down 0.33%.