Shoppers at Alexanderplatz in Berlin, Germany, Wednesday, September 25, 2024.
Christian Bossi | Bloomberg | Getty Images
Preliminary data released by the German statistics office Destatis on Monday showed that Germany's unified consumer price index fell to 1.8% in September, lower than expected.
According to a Reuters survey, unified CPI data in September is expected to be 1.9%. exist Augustthe coordinated CPI dropped unexpectedly to 2%.
On a monthly basis, the preliminary coordinated CPI fell by 0.1%. A Reuters poll showed the monthly data was expected to be unchanged.
LSEG data shows that the last time Germany's unified CPI data was below 2% (the European Central Bank's inflation target rate) was in February 2021.
Inflation data for the euro area and EU are consistent to ensure comparability.
Data released earlier on Monday showed inflation slowed in several major German regions in September, including a fall in North Rhine-Westphalia, the country's most populous state. soften It rose to 1.5% in September from 1.7% in August.
Within Europe, data released last week showed unified inflation rates in France and Spain fell below their 2% target in September.
The German data comes a day before the euro zone is scheduled to release inflation data, which will be closely watched by investors for the possibility of another ECB rate cut. Earlier this month, the bank implemented its second rate cut this year.