Germany's 'economic sages' predict weak recovery in 2024

Inflation rate went down just a bittttt!


German inflation drops to lowest level in over 2 years


Year-on-year inflation in Germany for October dropped to 3.8%, its lowest level in more than two years, according to final figures released on Wednesday.

While the figure is a marked decrease from September's 4.5% rise, it is still far higher than the European Central Bank's target of 2%.

What does the latest figure show?
The inflation figure, released by Germany's Federal Statistical Office, Destatis, is dramatically lower than earlier in the year when it was more than 8% year-on-year.

A drop in energy prices of 3.2% was particularly potent in driving down the October figure. A surge in energy prices that followed Russia's invasion of Ukraine in February 2022 previously played a major role in pushing prices upwards.

However, while fuels fell markedly in price, electricity remained noticeably more expensive, up 4.7%.

Food prices increased by 6.1% in October compared to the same month last year, although the rises showed another slowing down compar




www.dw.com/en/german-inflation-drops-to-lowest-level-in-over-2-years/a-67346376