german inflation hits 2year high in october
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

German inflation hits 2-year high in October

Arab Today, arab today

Arab Today, arab today German inflation hits 2-year high in October

Inflation rose by 0.8 percent this month compared
Frankfurt - AFP

German inflation picked up again in October to reach a two-year high, data showed Friday, suggesting the European Central Bank's unprecedented stimulus measures to boost prices may be delivering.

Inflation rose by 0.8 percent this month compared to the year before, according to preliminary figures from Germany's federal statistics office Destatis, the first time it has hit that level since October 2014.

The jump comes after inflation in Europe's economic powerhouse already soared to a 16-month high in September, buoyed by rising energy prices.

While the latest figure will likely be welcomed by ECB chief Mario Draghi, it remains far off the central bank's target of keeping inflation close to or just under 2.0 percent.

"For an economy that is currently operating at full employment and with a positive output gap, inflation rates at around 1 percent are still extremely moderate," said analyst Carsten Brzeski at ING Diba bank.

Consumer prices in Germany increased by 0.2 percent on last month, Destatis said.

Within the consumer price basket, energy prices shrank by 1.4 percent on the year, less than the 3.6-percent year-on-year fall they saw in September.

Food prices were unchanged on the year.

Brzeski said climbing energy prices were the main driver behind the gradual increase in inflation.

Stubbornly low inflation across the euro area remains a major headache for the ECB, with eurozone consumer prices rising to just 0.4 percent in September.

The ECB earlier this month decided to hold its record-low interest rates steady in a bid to encourage lending and drive up inflation.

It also opted to leave intact the bank's ultra-loose monetary policy, choosing to stay the course with a massive asset-buying programme to the tune of 80 billion euros ($87 billion) a month.

The bond-buying scheme is due to expire in March but most analysts believe more stimulus will be needed. 

"With inflation pressures still very weak, we suspect that it will still extend its asset purchases by six months at the current pace in December," said Capital Economics analyst Jennifer McKeown.

Using the Harmonised Index of Consumer Prices (HICP) preferred by the ECB, German inflation was up 0.7 percent compared with last October.

The preliminary October data is based on input from several German states.

Destatis said it would release the final results on November 11.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german inflation hits 2year high in october german inflation hits 2year high in october

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

german inflation hits 2year high in october german inflation hits 2year high in october

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday