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German Consumer Prices Fall In September

Germany's consumer prices declined in September largely due to the reduction in the value added tax, flash estimate from Destatis showed Tuesday.

Consumer prices dropped 0.2 percent on a yearly basis after staying flat in August. Prices were expected to drop 0.1 percent.

Month-on-month, consumer prices fell 0.2 percent versus a 0.1 percent decrease in August. Final data is due on October 13.

Data showed that goods prices decreased 1.7 percent annually, while cost of services gained 1 percent.

The harmonized index of consumer prices decreased 0.4 percent annually versus a 0.1 percent drop a month ago. On a monthly basis, the HICP slid 0.4 percent after easing 0.2 percent in August.

Data released earlier in the day the debt owed by the overall public budget to the non-public sector totaled EUR 2,108.9 billion at the end of the first six months of 2020. That was the highest debt ever determined for the debt statistics.

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