German inflation falls to the lowest level in more than three years [Yahoo! Finance Canada]
SWEDBANK AB S/ADR (SWDBY)
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Source: Yahoo! Finance Canada
By Maria Martinez BERLIN (Reuters) - German inflation fell to its lowest level in more than three years in August, a second estimate confirmed on Tuesday, making it easier for the European Central Bank to cut interest rates this week. Inflation eased to 2.0% in August, its lowest level since June 2021, thanks to lower energy prices. German consumer prices, harmonised to compare with other European Union countries, had risen by 2.6% year-on-year in July. Core inflation, which excludes volatile food and energy prices, slowed slightly to 2.8% in August from 2.9% the previous month. In August, energy prices in Germany fell by 5.1% compared to the same month last year. On the other hand, the rise in food prices accelerated for the fifth consecutive month. The prices of food were 1.5% higher in August than in the same month a year earlier, data from the statistics office showed. The increase in service prices was markedly higher than overall inflation, posting a 3.9% rise in
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