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German Inflation Slowest Since Early 2010

Germany's inflation in August, measured on the consumer price index, held steady as initially estimated, at its lowest level since February 2010, final data from Destatis showed Thursday.

The consumer price index rose 0.8 percent year-on-year in August, same as in July. This was the lowest since February 2010, when prices climbed 0.5 percent. On a monthly basis, consumer prices remained unchanged.

The statistical office confirmed the preliminary estimate published on August 28. The low inflation reflects decreasing energy prices. Excluding energy, consumer prices climbed 1.2 percent.

The harmonized index of consumer prices for Germany, which is calculated for European purposes, rose by 0.8 percent in August from preceding year. Thus, for the fourth time this year, an inflation rate of under 1 percent was determined for the HICP, Destatis said.

Month-on-month, the HICP remained flat. Both annual and monthly figures matched flash estimate.

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