Services significantly more expensive - Food prices rise more slowly - Germany’s October inflation stays high at 10.4% despite energy price drops
Consumer prices in Germany have shown mixed movements in October. While energy prices fell and some food items became cheaper, services and certain goods saw notable increases. The overall inflation rate stood at 10.4 percent.
Energy prices dropped by 0.9 percent year-on-year, with heating oil notably cheaper this October. However, natural gas and firewood became more expensive. Fuel prices also rose compared to the previous year.
In the food category, prices for olive oil, butter, and potatoes were significantly cheaper than the same month last year. Confectionery, particularly chocolate, saw a surge in prices. Meat and fruit also experienced steeper-than-average price increases. Overall, food prices increased by 1.3 percent, down from 2.1 percent in September.
Telecommunications services became cheaper compared to the previous year. However, services provided by social institutions, healthcare, auto repairs, and package holidays saw above-average price hikes. The inflation rate for services stood at 3.5 percent.
Prices for combined passenger transport, including public transit fares and the Deutschlandticket, rose by 11.4 percent. Despite the mixed movements, the overall inflation rate in Germany remained high at 10.4 percent in October.
