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Germany's EU harmonized inflation slowed in August, and to a larger extent than expected by economists, latest data showed Thursday.
The harmonized index of consumer prices (HICP) increased 1.6 percent on an annual basis in August, following the previous month's 1.9 percent rise, preliminary estimates from the Federal Statistical Office revealed. Economists were looking for a 1.7 percent growth.
The HICP stayed unchanged compared to July, when they recorded a 0.4 percent gain. Economists had forecast a more modest increase of 0.1 percent.
At the same time, inflation as per the consumer price index (CPI) eased to 1.5 percent in August from 1.9 percent in July. The CPI inflation was forecast to be 1.7 percent.
Sequentially, consumer prices stayed unchanged in August, after rising by 0.5 percent a month earlier, data showed. The index was expected to grow 0.1 percent month-on-month.
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