BREAKING: Inflation in Germany drops more than expected 🔔

Flash German CPI report for October was released today at 1:00 pm BST.

German CPI data for October

Annual: 3.8% YoY vs 4.0% YoY expected, and 4.5 YoY previously
Monthly: 0.0% MoM vs 0.2% MoM expected and 0.3% MoM previously

German Harmonized CPI data for October

Annual: 3.0% YoY vs 3.3% YoY expected, and 4.3 YoY previously
Monthly: -0.2% MoM vs 0.1% MoM expected and 0.2% MoM previously

Details of the preliminary CPI report:

In October 2023, Germany's inflation rate is expected to be +3.8%, the lowest since August 2021, with the consumer price index (CPI) showing no change from the previous month and a +3.8% increase from the same month last year. The harmonized consumer price index (HICP) for the same period indicates a +3.0% year-on-year increase but a -0.2% decrease from the previous month.

A significant factor in this trend is the 3.2% year-on-year decrease in energy prices, contrasting with a substantial +6.1% increase in food prices compared to the previous year. The core inflation rate, excluding food and energy, is expected to be +4.3%.

Source: xStation 5

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