September Inflation Drops In Italy, Spain; Remains Flat In Germany

 @AmruthaGayathri
on October 11 2013 6:16 AM
Madrid market
A customer shops at a market in central Madrid pictured on Sept. 30, 2013. Reuters

Consumer price inflation, or CPI, in Germany, Italy and Spain rose in September on a year-on-year basis, but the rate of increase slowed compared to August. On a monthly basis, inflation remained steady in Germany, and dropped in Italy and Spain.

Germany’s annual CPI grew by 1.4 percent in September, compared to a growth of 1.5 percent in August, but stayed flat on a month-on-month basis. However, the rise in food prices continued to remain significantly higher than overall inflation, surging by 4.7 percent on a yearly basis. Overall, energy prices in September dropped by 0.2 percent compared to a year earlier, although electricity prices (11.5 percent) and solid fuel prices (6.1 percent) were considerably up.

In Italy, inflation rose by 0.9 percent in September on a yearly basis, slowing from August's 1.2 percent rate. Inflation dipped into negative territory, dropping by 0.3 percent in September on a monthly basis, compared to a 0.4 percent increase registered in August. The monthly drop in inflation was attributed mainly to a slowdown in prices of transport, and of food and non-alcoholic beverages.

Spain’s yearly inflation rose 0.3 percent in September, down from 1.5 percent in August, but on a monthly basis, consumer prices dropped by 0.2 percent, compared to an increase of 0.3 percent in August.

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