Germany Posts Slight Drop in October Inflation
“After two consecutive increases related to services prices, the inflation rate dropped slightly in October,” said Ruth Brand, head of Destatis, highlighting a moderation after recent upward pressure on consumer costs.
The slowdown was supported by a 0.9% decline in energy prices year-on-year, while food costs rose 1.3%. Excluding the volatile energy and food categories, the core inflation rate stood at 2.8%, signaling persistent underlying price pressures.
Breaking down the components further, services prices increased 3.5% over the year, while goods prices recorded a more modest rise of 1.2%. On a monthly basis, Germany’s consumer price index rose by 0.3%, reflecting steady but contained inflation momentum.
Economists had expected inflation to stabilize in October after energy price fluctuations and rising services costs pushed the rate higher in prior months. The latest data suggests that, while price growth is moderating, underlying pressures in the services sector continue to influence the headline rate.
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