Germany's CPI moderated to 3.8% in October, at its lowest since August 2021

MADRID, 8 Nov. (EUROPA PRESS) -

The German Consumer Price Index (CPI) stood at 3.8% in October, which represents seven tenths less than the 4.5% in September and the smallest year-on-year increase in prices since August 2021, according to The Federal Statistics Office (Destatis) confirmed this Wednesday.

The substantial slowdown in the rise in prices in October compared to the same month last year responds to the 3.2% drop in the cost of energy, compared to the 1% rise in September, while food prices became 6% more expensive. .1% from 7.5% last month.

Likewise, services rose 3.9% annually in October, one tenth less than in September, while goods increased their cost by 3.6%, compared to 5% in September.

Thus, excluding the impact of food and energy from the calculation, Germany's core inflation would have stood at 4.3%, which is three tenths less than in September.

In turn, the harmonized inflation figure, used by Eurostat in its statistics, would have been 3%, compared to 4.3% in September, which is the lowest reading since June 2021.

"Price growth among consumers is currently easing somewhat," said Ruth Brand, president of the Federal Statistics Office, noting that the annual food inflation rate continued to weaken in October and most energy products fell. They have become cheaper compared to last year.

However, Brand warned that "the inflation rate remains high in the medium and long term. In particular, consumers continue to notice the increase in food and energy prices during the long period of war and crisis."