Flash Nov HICP: flat m/m, +2.8% y/y
MNI median forecast: flat m/m, +2.8% y/y
MNI forecast range: -0.2% to flat m/m
Final Oct HICP: +0.1% m/m, +2.9% y/y
————–
Flash Nov CPI: flat m/m, +2.4% y/y
MNI median forecast: flat m/m, +2.4% y/y
MNI forecast range: -0.1% to +0.1% m/m
Final Oct CPI: flat m/m, +2.5% y/y
————–
BERLIN (MNI) – Much as expected, German consumer prices were
overall stable in November both in national terms and in EU-harmonized
terms, which dampened annual rates slightly, the Federal Statistical
Office (FSO) estimated Monday.
As usual, the Federal Statistics Office provided few details on
price developments with the flash release. It did point to data from
reporting states which showed that upward pressure on annual consumer
prices came from the heating oil and gas prices.
Inflation pressures in Germany are expected to ease over the coming
months on the back of a deteriorating domestic and global economic
outlook. Growth of input prices has already slowed over recent months
and business expectations for selling prices have been falling.
Finance Minister Wolfgang Schaeuble last week cautioned that
Germany’s growth outlook “is no longer as favorable as it appeared half
a year ago. That is the big worry.”
The Finance Ministry forecast last week that the economic upswing
will likely slow markedly in the fourth quarter. Due to moderating
global growth, inflation pressures will likely ease as well, it said.
The Bundesbank said last week that the economy is set to run into
difficult cyclical headwinds in the coming months, yet there are few
signs to suggest the economy is heading for a recession.
The central bank forecast a slowdown in economic growth for the
coming year to 0.5% to 1.0%, which it said would result in a shift from
external to domestic growth forces.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: M$G$$$,M$X$$$,MAGDS$,M$XDS$,MT$$$$]
