Berlin: The consumer price index (CPI) in Germany rose by 2.3% in October on a yearly basis, showing a slight decrease from 2.4% in September, as indicated by preliminary estimates released Thursday. The inflation figure for October aligned with market expectations.

According to Anadolu Agency, the persistent increase in services and food prices continued to contribute to inflation, with respective rises of 3.5% and 1.3%. Data from the Federal Statistical Office (Destatis) highlighted that food inflation had eased slightly from 2.1% in September, while services inflation experienced a minor increase from 3.4%.

Energy prices showed a decline in October, falling by 0.9% year-on-year, compared to a 0.7% fall in September. The inflation rate had previously risen by 2.4% in September, marking an increase from 2.2% in August, and 2% in both July and June, the latter being the lowest since the previous October.

CPI figures stood at 2.1% in May and April and 2.2% in March, down from a 14-month high of 2.6% in December. Core inflation, which excludes food and energy, remained at 2.8% in October on an annual basis, stable from the previous month.

In comparison to August, consumer prices rose by 0.3% in October, accelerating from a 0.2% rise in September, and slightly surpassing market expectations.