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DAX Slips After Inflation Data
(RTTNews) - German stocks traded lower on Friday after data showed inflation slowed marginally in August as estimated but the rate remained elevated due to the increases in energy and food prices.
Consumer price inflation slowed to 6.1 percent in August from 6.2 percent in July, according to final data from Destatis.
The statistical office confirmed the provisional estimate published on August 30. "The increases in energy and food prices exceed overall inflation and keep the inflation rate high," Federal Statistical Office President Ruth Brand said.
On a monthly basis, consumer prices gained 0.3 percent, the same rate as registered in June and July and also matched the flash estimate.
EU harmonized inflation slowed to 6.4 percent, as initially estimated, from 6.5 percent in July.
The German DAX was down 47 points, or 0.3 percent, at 15,671 after declining 0.1 percent on Thursday.
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