Inflation in Germany is at its lowest level since August 2021

Inflation in Germany fell to 3.8 percent in October, its lowest level since August 2021.

The German Federal Statistical Office (Destatis) announced the final data on the October price increase.

Consequently, annual inflation, which was 4.5 percent in September, decreased to 3.8 percent in October, registering the lowest value since August 2021.

Inflation remained unchanged monthly. The final data confirmed previously published preliminary data.

It should be noted that annual inflation decreased for 4 consecutive months.

The EU-compliant CPI decreased by 0.2 percent month-on-month in October and increased by 3 percent year-on-year.

While food prices increased by 6.1 percent annually in October, energy product prices decreased by an average of 3.2 percent.

Excluding energy prices, annual inflation in the country in October was 4.5 percent.

‘INFLATION CONTINUES ITS HIGH COURSE’

Destatis president Ruth Brand said: “Inflation remains high in the medium and long term. “Consumers continue to feel the increases in food and energy prices, especially during the long period of war and crisis.” she made the assessment of it.

Germany’s core inflation rate, calculated excluding food and energy, fell from 4.6 percent in September to 4.3 percent in October.

Analysts said easing core inflation in Germany would be a relief to European Central Bank (ECB) authorities, who in recent months have been more concerned about underlying inflation pressures than headline inflation. (AA)