german inflation hits 2year high in october
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

German inflation hits 2-year high in October

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleGerman 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.

themuslimchronicle
themuslimchronicle

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

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle