Daily Economic news by ForexMart

[KostiaFM]

September 8. German inflation slowed to 6.4% in August

According to the final data of the German Federal Statistical Office, in August consumer prices that meet European Union standards increased by 6.4% compared to the same period last year.

Thus, inflation slowed down from 6.5% in July. The result corresponds to the preliminary assessment and forecasts of experts.

On a monthly basis, prices for consumer goods and services increased by 0.4%, after an increase of 0.5% in July.

Inflation, calculated only by German standards, also slowed down – in August the indicator fell to 6.1% y/y from 6.2% in July. This was the minimum growth in the last three months.

The cost of energy in Germany accelerated its growth to 8.3% from 5.7%. The cost of food increased by 9% (in July – by 11%).

Core inflation, excluding volatile energy and food prices, remained stable and amounted to 5.5% y/y in August, remaining at the level of the previous month.

Preliminary data on the dynamics of inflation in Germany in September will be published on September 28.

[KostiaFM]

September 11. Oil market news

On Monday morning, oil prices remain stable in the area above $90 per barrel.

The current quotation of Brent crude oil is $90.30. The maximum reached at the end of last week is $90.83. North American WTI oil shows similar dynamics: the current price is $86.97 per barrel, Friday's maximum is $87.75.

These marks were the highest since November last year. Over the past week, prices for Brent rose by 2.4%, and for WTI – by 2.3%.

The current slight decline in prices is probably a technical correction. Although the oil market is still under pressure from concerns related to the slowdown in economic growth in China.

China returned to inflation in August, but the growth rate was slower than expected. Consumer prices (CPI index) in the country last month increased by 0.1% in annual terms, which was below the average analysts' expectations of 0.2%. In July, the decline was 0.3%.

This week, attention should be paid to the publication of OPEC's monthly report on the oil market, which is scheduled for Tuesday. And on Wednesday, the US Department of Energy will present a weekly report on crude oil reserves in the country.