According to the latest report, the year-over-year rate of inflation in Germany slowed down to 1.9% in November. Germany’s consumer spending declined by 0.1% (m/m). The actual readings matched the forecasts.
For reference sake, there was zero inflation in September (m/m). At the same time, consumer prices were 2% higher than a year before.
In early October, the International Monetary Fund downgraded the forecast for Germany’s economic growth in 2013. The GDP is expected to boost only by 0.9% instead of 1.4%.
