11/11/2022, 8:00 AM (Source: TeleTrader)
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German inflation confirmed at 10.4% in October

Consumer prices in Germany rose by 10.4% in October, year over year, the Federal Statistical Office (Destatis) shared in its report on Friday. The figure was in line with the preliminary reading and up from September's inflation, which stood at 10%. In comparison to the month prior, consumer prices saw a 0.9% increase in October.

Both readings for the annual energy and food price growth were confirmed at 43% and 20.3%. The Harmonized Index of Consumer Prices jumped 11.6% on a yearly basis in October and rose 1.1% compared to the month earlier.

"The main reasons for the high inflation are still enormous price increases for energy products. But we are also increasingly seeing price increases for many other goods and services. The rising prices for food are now particularly noticeable for private households," President of the Federal Statistical Office Georg Thiel commented.

Baha Breaking News (BBN) / AY