September 27, 2018 / 12:11 PM / 2 months ago

German inflation rises more than expected in September

BERLIN, Sept 27 (Reuters) - German annual inflation accelerated more than expected in September overshooting the European Central Bank’s price stability target, data showed on Thursday, supporting its decision to wind down its monetary stimulus gradually.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.2 percent year-on-year after an increase of 1.9 percent in the previous month, the Federal Statistics Office said.

This beat a Reuters poll of analysts who on average had predicted 2.0 percent. The ECB targets inflation of close to but below 2 percent for the single-currency bloc as a whole.

On the month, EU-harmonised prices rose by 0.4 percent, the preliminary numbers showed. That compared with the Reuters consensus forecast for an increase of 0.1 percent. (Reporting by Michael Nienaber, )

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