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Germany’s Inflation Rate Moderates in October
(MENAFN) The annual inflation rate in Germany declined to 2.3% in October, down from 2.4% in September, according to the federal statistical office, Destatis, which reported the figures on Wednesday.
Ruth Brand, head of Destatis, noted that after two successive rises driven by services prices, the inflation rate eased modestly in October.
Energy costs fell by 0.9% compared to the previous year, while food prices grew by 1.3%. Excluding energy and food, the inflation rate stood at 2.8%.
During the same period, prices for services increased by 3.5%, whereas goods experienced a smaller rise of 1.2%.
On a monthly comparison, the inflation rate registered a growth of 0.3%.
Ruth Brand, head of Destatis, noted that after two successive rises driven by services prices, the inflation rate eased modestly in October.
Energy costs fell by 0.9% compared to the previous year, while food prices grew by 1.3%. Excluding energy and food, the inflation rate stood at 2.8%.
During the same period, prices for services increased by 3.5%, whereas goods experienced a smaller rise of 1.2%.
On a monthly comparison, the inflation rate registered a growth of 0.3%.
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