August 30, 2018 / 12:15 PM / 3 months ago

German inflation slows to ECB target in August

BERLIN, Aug 30 (Reuters) - German annual inflation slowed by more than expected in August to within the European Central Bank’s price stability range, data showed on Thursday, supporting its approach of winding down its monetary stimulus only gradually.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.9 percent year-on-year after an increase of 2.1 percent in the previous month, the Federal Statistics Office said.

This was below the average reading of 2.0 percent in a Reuters poll of analysts. The ECB targets inflation of close to but below 2 percent.

On the month, EU-harmonised prices were flat, the preliminary numbers showed. That compared with the Reuters consensus forecast for an increase of 0.1 percent. (Reporting by Joseph Nasr Editing by Paul Carrel)

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