September 28, 2017 / 12:01 PM / in a year

German inflation weaker than expected in September

BERLIN, Sept 28 (Reuters) - German consumer prices rose less than expected in September and inflation remained below the European Central Bank’s target, data showed on Thursday, supporting arguments that the central bank should only gradually unwind its expansionary policy.

Consumer prices, harmonised to compare with other European countries (HICP), increased by 1.8 percent on the year after an equal rate in the previous month, the Federal Statistics Office said. On the month, prices were unchanged.

Both figures undershot expectations. A Reuters poll had pointed to an increase of 1.9 percent on the year and a rise of 0.1 percent on the month.

A breakdown of non-harmonised data showed that food and energy inflation picked up from August but cost increases for services and rents remained unchanged in September. (Reporting by Joseph Nasr; Editing by Michael Nienaber)

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