Germany's annual inflation confirmed at 27-month low in October

By Tuba Ongun

Germany's annual consumer inflation was confirmed at a 27-month low in October, thanks to a slowdown in rising food prices and the fall in energy prices, according to the official data released on Wednesday.

The consumer prices increased 3.8% year-on-year in October, easing from a 4.5% hike in September, the Federal Statistical Office (Destatis) data showed.

Despite the fall, the inflation rate remained above the medium-term and long-term figures, said Ruth Brand, president of Destatis.

"In particular, consumers are still feeling the higher food and energy prices, which have risen during the extended period of war and crisis," Brand said.

Energy product prices in October decreased 3.2% from last year, shifting from a 1% rise in September.

Food prices gained 6.1% in October compared with the same month a year earlier, slowing from 7.5% in September. October's annual food inflation was the highest since Feb. 2022.

On a monthly basis, consumer prices in October remained unchanged from September.