Germany Inflation October 2016

Germany

Germany: Inflation rises in October to over two-year high

Consumer prices in October rose 0.2% in a month-on-month comparison, according to preliminary data released by the Federal Statistics Office (Destatis) on 28 October. The result came in above market analysts’ expectations of a 0.1% rise and September’s 0.1% increase.

Inflation inched up from 0.7% in September to 0.8% in October, reaching the highest level since September 2014.

Harmonized consumer prices in October edged up from a flat reading in September to 0.2%. HICP inflation rose from 0.5% in September to 0.7% in October, marking a two-year high. Meanwhile, average HICP inflation remained steady in October at the 0.2% print observed in September.

The Central Bank expects inflation of 0.2% in 2016 and 1.5% in 2017. FocusEconomics panelists expect inflation to average 0.4% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect inflation to increase to 1.5%, which is also unchanged from last month’s projection.


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Germany Inflation October 2016

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Federal Statistics Office (Destatis) and FocusEconomics calculations.


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