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German inflation slows more than expected to 1.9% in August

World News

29-08-2024 | 07:20

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German inflation slows more than expected to 1.9% in August

German inflation slowed to its lowest level in more than three years in August, official data showed Thursday, strengthening the case for another interest rate cut by the European Central Bank next month.

The annual inflation rate in Europe's biggest economy eased more than expected to 1.9 percent, preliminary data from federal statistics agency Destatis showed, down from 2.3 percent in July.

Analysts surveyed by FactSet had predicted an August inflation rate of 2.1 percent.

AFP

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