Germany's inflation rate has decreased to 1.6% in September 2024, the lowest in over three years, driven by falling energy prices while services costs rose.
Core inflation, excluding food and energy, has also slightly decreased from 2.8% to 2.7%, indicating a broader trend of declining price pressures in the economy.
Despite the fall in inflation, consumer spending remains stagnant as surveys show little desire among companies to raise prices, affecting overall consumption behavior.
Economists predict further declines in inflation, with a forecast for the following year projecting a decrease to 2.0%, which may influence the European Central Bank's interest rate decisions.
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