Consumer prices: Fuel discount dampens inflation - but no all-clear yet
High energy prices are further fuelling inflation in Germany. In October, there was relief for consumers. However, economists do not see a trend reversal.
Germany's inflation rate dropped to 2.8% in October from 3.3% in September, according to preliminary data from the Federal Statistical Office. The decrease is largely attributed to the tank discount, which reduced fuel prices. Despite this, economists warn that inflation is likely to rise again, with Commerzbank chief economist Jörg Krämer predicting it will exceed 3% around the turn of the year.
The European Central Bank aims for a 2.0% inflation rate in the eurozone, and has raised interest rates twice this year to combat rising prices.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
