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- Germany’s annual inflation decelerates further in October
Germany’s annual inflation decelerates further in October
Germany's
Federal Statistical Office reported on Wednesday the country’s consumer price
index (CPI) is expected to increase 0.1 m-o-m in October after being unchanged
m-o-m in the previous month.
On the y-o-y
basis, Germany’s inflation rate is seen to rise 1.1 percent this month,
following a 1.2 percent gain in September. That would be the lowest reading
since February 2018.
Economists had
predicted inflation would be flat m-o-m and would increase 1.1 percent y-o-y in
October.
According to
the report, food price growth decelerated to 1.1 percent y-o-y in October from 1.3
percent y-o-y in September, while energy prices fell 2.1 percent y-o-y,
following a drop of 1.1 percent y-o-y in the previous month. Services costs
rose 1.7 percent y-o-y in October after a 1.8 percent y-o-y climb in September.
Meanwhile, the
harmonized index of consumer prices for Germany (HICP), which is calculated for
European purposes, is expected to increase 0.1 percent m-o-m and 0.9 percent
y-o-y.
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