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German annual inflation confirmed at 0.9% in September

German annual harmonized inflation was confirmed at 0.9% for September, marking the lowest level in nearly three years, down from 1.0% in August, data from the country's Federal Statistical Office showed.

The reading was below the European Central Bank's target of just below 2%. On a monthly basis, the harmonized inflation rate fell 0.1% in September.

In nonharmonized terms, annual consumer price inflation rate fell to 1.2% in September from 1.4% in August. Energy product prices fell 1.1% year over year in September, following a 0.6% increase a month ago.

Food prices increased 1.3% year over year in September, slowing from a 2.7% rise in August. Goods prices rose 0.6%, while services prices grew 1.8%. Prices of housing, water, electricity, gas and other fuels grew 1.6%, while clothing and footwear prices grew 0.9%.

Month over month, nonharmonized consumer prices were unchanged in September.