Germany's headline consumer price inflation slowed for a third straight month in February and at a faster-than-expected pace, to its lowest level since November 2016, preliminary data showed Tuesday. The consumer price index rose 1.4 percent year-on-year following 1.6 percent increase in January, the flash estimates from Destatis showed.
Economists had forecast 1.5 percent inflation. The latest figure was the lowest since November 2016, when it was 0.8 percent. On a month-on-month basis, the CPI rose 0.5 percent in February, in line with economists' expectations.
Food price inflation slowed sharply to 1.1 percent from 3.1 percent and energy inflation tumbled to 0.1 percent from 0.9 percent. The harmonized index of consumer prices, or HICP, which is meant for EU comparison, climbed 1.2 percent year-on-year after a 1.4 percent rise in January. Economists had forecast a 1.3 percent increase.
HICP inflation was also the lowest since November 2016, when it was 0.7 percent. The HICP rose 0.5 percent month-on-month in February, which was slightly less than the 0.6 percent increase economists had predicted. Destatis is set to release detail data on March 14.
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