Germany’s annual inflation rate fell to 2.8% in October, according to preliminary figures released by the Federal Statistical Office (Destatis) on 30 October. Consumer prices were 2.8% higher than in the same month last year, while prices declined by 0.2% compared with September.
Energy price increases ease
Core inflation, excluding food and energy, is expected to stand at 2.1%. Energy prices remained 12.2% higher than a year earlier, but the annual increase slowed from 14.9% in September.
The preliminary figures point to some easing in price pressures. However, a lower inflation rate does not mean that prices have returned to earlier levels: consumer prices remain above those recorded a year ago.
Figures remain provisional
Destatis said the October figures are based on results available so far and may be revised in the final release. Inflation is measured by the change in the consumer price index compared with the same month of the previous year.
Illustrative photo of market produce: Unsplash / Vandit Bhayani.
