German Inflation Eases to 2.8% in October as Energy Price Rises Slow
Germany's inflation rate eased to 2.8 percent in October after climbing for three consecutive months, according to official data cited by The Star. The decline followed September's rate of 3.3 percent, which the Federal Statistical Office (Destatis) described as the highest in nearly three years.
September's spike was driven largely by a sharp rise in energy costs, Destatis said. Energy prices climbed 12.2 percent year-on-year in October, cooling from a 14.9 percent surge the month before.
The slower pace of energy price increases followed temporary fuel tax cuts introduced by the German government on Oct. 1, with the measures set to expire at the end of the year, according to The Star.
Source: thestar.com.my (opens in a new tab)1 sourcePermalink