German annual inflation eases to 2.8% in October as energy price growth slows

By Gokhan Ergocun

ISTANBUL (AA) - Annual consumer inflation in Germany is expected to stand at 2.8% in October, slowing from 3.3% in September as energy price increases moderated, official preliminary data showed on Friday.

The Consumer Price Index decreased by 0.2% on a monthly basis in October compared with September, according to the Federal Statistical Office.

The annual inflation rate excluding volatile food and energy components, known as core inflation, is projected at 2.1% in October.

Energy prices are expected to rise 12.2% year-on-year in October, easing from a 14.9% annual jump recorded in September.

Germany's Harmonized Index of Consumer Prices, designed for European Union-wide comparisons, is also expected to rise 2.8% on an annual basis in October.

Month-on-month, the harmonized index dipped 0.1% from September, the statistical office reported.

Gökhan Ergöçün