German Inflation Hits Two-Year High in October

Berlin, Muharram 27, 1438, Oct 28, 2016, SPA — German inflation hit a two-year high in October as energy costs declined significantly less, easing pressure on the European Central Bank (ECB) as it struggles to drive up eurozone consumer prices, data released on Friday showed.
Preliminary data showed that annual inflation in the eurozone’s biggest economy climbed to a higher-than-forecast 0.8 per cent this month from 0.7 per cent in September, the Federal Statistical Office of Germany (Destatis) said.
Analysts had expected consumer prices in October to hold steady at September’s level.
Inflation in Germany now stands at its highest level since October 2014. In July and August, it stood at 0.4 per cent, dpa reported.
Since then, the ECB has launched a series of moves aimed at reviving the 19-member currency bloc’s economy and stirring inflationary pressures to head off the threat of deflation.
–SPA
19:46 LOCAL TIME 16:46 GMT