Germany's CPI inflation still very high but this time in line with expectations. After yesterday's reading of declining price pressures in the US, investors took this clearly optimistic, with the German stock market gaining for another day in a row:
- German CPI inflation for October 10.4% y/y vs. 10% y/y previously, in line with expectations
- Germany's annualized HICP inflation 11.6% also in line with expectations
Germany's inflation rate was again above 10%. The main reasons for Germany's high inflation rate are still the huge price increases in energy products. Particularly felt by households at the moment are rising food prices. According to the Federal Statistical Office (Destatis), consumer prices in October 2022 rose by 0.9% compared to September 2022. Source: Statistisches Bundesamt 
DE30 chart, M15 interval. The bulls are trying to continue the dynamic upward movement and reverse the downward trend. Source: xStation5
