Germany’s consumer prices increase in October after remaining flat in the previous month, preliminary estimates from the Destatis showed Thursday.
The consumer price index rose 0.3 percent annually following stagnation in September. Economists had forecast 0.2 percent increase. The latest gain was the fastest since June, when prices climbed at the same pace.
Energy prices slumped for a second straight month, down 8.6 percent annually. Food prices rose 1.6 percent from a year ago.
Month-on-month, the CPI remained unchanged from September, defying forecasts for a 0.1 percent fall.
The harmonized index of consumer prices, which is meant for EU comparison purposes, rose 0.2 percent annually in October, after declining 0.2 percent in the previous month. Economists had expected the index to remain unchanged.
On a month-on-month basis, the HICP also held steady in October.
The Destatis is set to release the final figures for October inflation on November 12.
The material has been provided by InstaForex Company – www.instaforex.com