© Reuters. FILE PHOTO: A pack of sausages is pictured next to a price tag, with a reference to the Europe-wide “true costs” campaign week by the discount supermarket Penny, in which nine selected products are given the calculated “real price” as the sales price, und
By Maria Martinez
BERLIN (Reuters) – German inflation fell slightly in August but was still higher than forecast, data showed on Wednesday, as the downward trend since the start of the year slowed.
German consumer prices, harmonised to compare with other European Union countries, increased by 6.4% on the year in August, according to preliminary data from the federal statistics office.
Analysts polled by Reuters had forecast harmonised annual inflation of 6.3% after a reading of 6.5% in July.
Non-harmonised inflation in Germany fell to 6.1% in August from 6.2% the previous month.
The data from Germany, the euro zone’s biggest economy, come as the European Central Bank is still looking for evidence that underlying inflation has turned a corner.
Germany’s core inflation rate, which excludes volatile items such as food and energy, stood at 5.5% in August, unchanged from July.
