The inflation rate should remain in the double digits – despite the reduction in VAT on gas from October.
(Photo: IMAGO/Future Image)
Frankfurt The inflation rate in Germany rose again significantly in October. Consumer prices increased by 10.4 percent compared to the same month last year. This was announced by the Federal Statistical Office on Friday based on a preliminary estimate.
In September, the inflation rate was 10.0 percent. This was the highest level since 1951. Economists surveyed by the Reuters news agency had expected a figure of 10.1 percent for October.
In its current monthly report for October, the Bundesbank assumes that the inflation rate will remain in the double digits in the coming months, even if some relief has come into force, such as the reduction in value added tax on gas and district heating from October.
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