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German inflation at 2-year high in October

Staff Writer | October 29, 2016
German inflation accelerated for a second straight month to a two-year high in October, preliminary data from Destatis showed.
Germany   The HICP inflation accelerated
The consumer price index rose 0.8 percent year-on-year following 0.7 percent in September. The figure was in line with economists' expectations.

The latest increase was the biggest since October 2014, when prices rose at the same pace.

The pace of decline in energy prices slowed to 1.4 percent from 3.6 percent. Food prices remained unchanged after a 0.4 percent rise in the previous month.

On a month-on-month basis, the CPI increased 0.2 percent in October following a 0.1 percent increase in the previous month. The gain matched economists' expectations. Prices rose for a second straight month.

The EU measure of inflation, the harmonized index of consumer prices, or HICP, rose 0.7 percent year-on-year after a 0.5 percent climb in September. The figure was in line with economists' expectations.

The HICP inflation accelerated for a second consecutive month and the increase was the strongest since October 2014, when the index moved up at the same pace.

Compared to the previous month, the HICP rose 0.2 percent in October, slightly faster than the 0.7 percent increase economists had forecast.

The agency is set to release the final CPI and HICP figures for October on November 11.