Germany: Inflation holds steady in October
November 9, 2012
In October, consumer prices remained unchanged over the previous month, which confirmed the flash estimate released by the statistical office on 29 October. The reading followed the flat figure recorded in September and, according to more detailed data, reflected higher prices for clothing and footwear as well as for motor vehicles insurance, which offset lower prices for energy, particularly for fuel. Annual headline inflation remained unchanged at September's 2.0%, which matched market expectations. Meanwhile, annual average inflation inched down from 2.1% in September to 2.0% in October. Annual HICP inflation (based on the harmonized index of consumer prices) remained unchanged at September's 2.1%, driving annual average HICP inflation down from 2.3% in September to 2.2%.
Author: Ricardo Aceves, Senior Economist