FRANKFURT, Aug 31 — German consumer prices were flat in August, official data said today, a month after inflation turned negative for the first time since 2016. Inflation was 0 per cent in August, after falling 0.1 per cent in July, with both figures still well below the 0.9 per cent rise in...
The stagnating prices in Germany will raise the spectre of eurozone deflation. ― Reuters pic
Federal statistics agency Destatis said it was due in part to Germany’s cutting of VAT in July to spur spending. The tax reduction is set to last until the end of the year. The stagnating prices in Europe’s largest economy will continue to raise the spectre of eurozone deflation and are likely to cause some anxiety at the European Central Bank.
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