Advertisement
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.
Asian Shares End Mostly Higher As Trump's New Tariffs Go Into Effect
China Exports Growth Accelerates; Imports Rise Unexpectedly
UK House Prices Rise At Fastest Pace In 6 Months
NZ Dollar Advances Against Majors
Australian Dollar Rises Against Majors
German Exports Recover In June
European Economic News Preview: BoE Likely To Cut Rates
