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- German preliminary consumer index dropped the lowest level since February 2010
German preliminary consumer index dropped the lowest level since February 2010
The Federal Statistics Office released German preliminary consumer inflation data on Thursday. German preliminary consumer index dropped to 0.5% annual rate in November from 0.7% in October, missing forecasts of a decline to 0.6%. That was the lowest level since February 2010.
On a monthly basis, preliminary consumer prices were flat in November, in line with expectations, after a 0.3% fall in October.
These figures added to concerns about deflation in the Eurozone. Deflation can trigger a spiral where businesses and households delay purchases.
Final figures are scheduled to be released on December 11.
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