Annual inflation in Germany falls to 2.3% in October

ISTANBUL

The annual inflation rate in Germany fell to 2.3% in October, from 2.4% in September, the federal statistical authority Destatis said on Wednesday.

After two consecutive increases related to services prices, the inflation rate dropped slightly in October, Ruth Brand, head of Destatis, stated.

Energy prices decreased by 0.9% year-on-year while food prices increased 1.3%; energy and food-excluded inflation rate was 2.8%.

Services prices rose 3.5% over the same period, while goods prices went up 1.2%.

On a monthly basis, the inflation rate was 0.3%.