The FINANCIAL — German inflation was slightly stronger than expected in October, but remained sharply below the European Central Bank’s target in yet another sign that ample monetary stimulus has yet to have its desired effect in Europe’s largest economy, according to Nasdaq.
Consumer prices measured according to common European standards were unchanged from September, but up 0.2% from October last year, the Federal Statistical Office said on October 29. Economists polled by The Wall Street Journal had forecast a monthly decline in the HICP of 0.1% and an annual increase of 0.1%.
Coming hot on the heels of weak Spanish inflation numbers Thursday, the data confirm that the ECB is a long way off from bringing eurozone inflation back to its desired level of just below 2%. Spain’s HICP was down 0.9% from October last year, according to INE statistics office.
German inflation measured according to national standards was also slightly stronger than expected in October, albeit subdued. Consumer prices were unchanged from September and up 0.3% from the year-earlier. Energy prices fell 8.6% on the year, but food price were up 1.6%, Destatis said.
Discussion about this post