Germany Inflation Confirmed at 0.8% in October

German annual inflation rate was recorded at 0.8 percent in October of 2014, unchanged from the previous two months and matching preliminary estimates.

Year-on-year, energy prices fell 2.3 percent. Prices were down in particular for light fuel (-10.8 percent) and motor fuels (-3.5 percent). In contrast, electricity prices rose again 1.8 percent. 

Food prices increased 0.7 percent from October of 2013. Prices were significantly higher for dairy products (+6.3 percent) and coffee, tea and cocoa (+6.4 percent, including coffee beans: +11.1 percent). Lower prices were seen for edible fats and oils (-10.9 percent, including butter: -19.1 percent), vegetables (-1.2 percent) and fruit (-1.1 percent). 

Prices of services rose above average (+1.7 percent) compared with October 2013, mainly due to the increase in net rents (+1.6 percent). Besides, price increases were observed, for example, recreational and sporting services (+3.4 percent) and social institutions services (+4.1 percent, including outpatient care services: +10.3 percent). The prices of telecommunication services, however, continued to declined (-1.1 percent).

Compared with September 2014, consumer prices fell 0.3 percent in October of 2014. Cost were down for energy (-1.5 percent), mainly due to lower price of petroleum products (-3.1 percent, of which fuels: -2.4 percent and heating oil: -5.8 percent). Price also decreased for holiday packages (-4.5 percent).

The harmonized index of consumer prices rose by 0.7 percent in October of 2014 over the same month last year. Compared with the previous month, the index fell 0.3 percent. The preliminary results for the HICP were confirmed.

Germany Inflation Confirmed at 0.8% in October

11/13/2014 10:36:59 AM