Monday, September 30, 2024

German state inflation points to further decline nationwide in September

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BERLIN (Reuters) – Inflation eased across a raft of key German states in September, preliminary data showed on Monday, suggesting that the national inflation rate would also decrease further.

The inflation rate in North Rhine-Westphalia, Germany’s most populous state, eased to 1.5% year-on-year from 1.7% in August.

In Bavaria, the inflation rate fell in September to 1.9% from 2.1% the previous month.

In Brandenburg, it eased to 1.4% from 1.7%, and in Saxony to 2.4% from 2.6%.

In Hesse, it declined to 1.2% from 1.5%.

In Baden-Wuerttemberg, it edged down to 1.4% from 1.5%.

Economists polled by Reuters forecast Germany’s harmonised inflation rate at 1.9% in September, down slightly from 2.0% in August, already its lowest level in over three years.

Economists will pay close attention to national inflation data, scheduled for release later on Monday, as Germany publishes its figures a day before euro zone inflation data.

Inflation in the euro zone is expected to ease further to 1.9% in September from 2.2% the previous month, according to economists polled by Reuters.

(Reporting by Rachel More; editing by Matthias Williams)

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