Germany: Inflation reaches over 10-year high in October
November 13, 2018
In October, consumer prices rose 0.2% over the prior month, down from September’s 0.4% increase. The result reflected higher prices for footwear; clothing; and energy, which offset lower prices for food.
Inflation picked up to 2.5% in October from 2.3% in September, marking the highest reading since September 2008. Meanwhile, annual average inflation inched up from 1.7% in September to 1.8% in October and harmonized inflation (HICP) edged up to 2.4% from 2.3% in September.
Germany Inflation Forecast
The Central Bank expects HICP inflation of 1.8% in 2019. FocusEconomics panelists see CPI inflation averaging 1.8% in 2019, which is unchanged from last month’s forecast. For 2020, our panel sees average inflation at 1.7%.
Author: Jan Lammersen, Economist