Germany annual CPI inflation softens to 2.8% in October
Inflation in Germany, as measured by the change in the Consumer Price Index, declined to 2.8% (preliminary) in October from 3.3% in September, Germany's Destatis reported on Friday.
German annual Consumer Price Index (CPI) inflation eased to 2.8% in October, down from 3.3% in September, according to preliminary figures from Germany's Destatis. On a monthly basis, the CPI fell by 0.2% after increasing by 0.6% in September, falling short of expectations of a 0.1% rise. The Harmonized Index of Consumer Prices (HICP), the European Central Bank's primary inflation gauge, rose by 2.8% over the past year, below earlier forecasts.
As a result, the EUR/USD currency pair experienced a slight decline, trading around 1.1170 at the time of reporting.
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