Arab Today, arab today german inflation hits 3yr high
Last Updated : GMT 18:41:28
Arab Today, arab today
Arab Today, arab today

German inflation hits 3-yr high

Arab Today, arab today

Arab Today, arab today German inflation hits 3-yr high

Frankfurt - AFP

Inflation in Germany hit a three-year high of 2.6 percent in September, official data showed Wednesday, dampening speculation of a possible cut in eurozone interest rates any time soon. At 2.6 percent on a 12-month basis, the headline inflation figure for the eurozone\'s largest economy was the highest since September 2008 and up on the 2.4 percent recorded in August, the national statistics office Destatis said. It was also higher than expected: analysts had been pencilling in stable inflation rates this month in view of lower oil prices and weakening economic outlook. On a monthly basis, consumer prices rose by 0.1 percent in September. As in previous months, rising energy costs, in particular for heating and motor fuels, but also higher clothing prices were the main factor behind the pick-up, Destatis said. Using the EU\'s Harmonised Index of Consumer Prices (HICP), which is the European Central Bank\'s inflation yardstick, the cost of living in Germany rose by 2.8 percent on a 12-month basis in September, up from 2.5 percent the previous month. The ECB aims to keep inflation close to, but below 2.0 percent, so the higher-than-expected German inflation number could dent hopes for a cut in interest rates at the central bank\'s policy meeting next week, analysts said. \"With leading indicators pointing to a mild recession and inflation likely to ease as soon as last year\'s oil price hikes drop from the equation, an ECB rate cut is becoming likely,\" said Christian Schulz, senior economist at Berenberg Bank. A number of recent comments from ECB governing council members had even appeared to suggest that such a cut could come soon, maybe as early as next week. \"However, with inflation continuing to run relatively high in Germany, a quick cut may be harder to justify,\" Schulz said. Furthermore, recent leading indicators such as German business confidence suggested any recession would probably be mild and short. So instead of cutting interest rates, the ECB could continue to support banks via other measures, such as reintroducing one-year refinancing operations or purchasing assets such as covered bonds, the analyst argued. That would enable the ECB to keep its gunpowder dry and save a rate cut for when the economic data deteriorate even further, possibly a few months into the term of incoming president Mario Draghi who takes over from Jean-Claude Trichet in November. \"In December, Draghi could pre-announce a rate cut for January,\" Schulz suggested. Postbank economist Thilo Heidrich also believed the ECB would leave its interest rates at their current level of 1.50 percent for the time being. Alexander Koch at UniCredit argued that inflation was nearing its peak and would start coming down again early next year. \"Business surveys show that the peak in selling price expectations is now clearly behind us. Accordingly, the headline inflation rate should be close to its cyclical peak,\" he said. \"Following an elevated level of headline inflation of 2.3 percent this year, we expect a deceleration to 1.7 percent for 2012.\"  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german inflation hits 3yr high Arab Today, arab today german inflation hits 3yr high

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german inflation hits 3yr high Arab Today, arab today german inflation hits 3yr high

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday