Germany’s consumer price inflation reached its highest level since late 2008, preliminary data from Destatis showed Tuesday.
Consumer prices advanced 2.5 percent annually in October, following September’s 2.3 percent increase. This was the highest rate since September 2008 and above the expected rate of 2.4 percent.
Month-on-month, consumer prices gained 0.2 percent compared to forecast of 0.1 percent.
The harmonized index of consumer prices for Germany, calculated for European purposes, advanced 2.4 percent annually after climbing 2.2 percent in September. The annual rate matched economists’ expectations.
On month, the HICP edged up 0.1 percent, in line with consensus forecast. Final data is due on November 13.