Germany: Annual CPI rises to 10.4% in October

As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10.4% in October from 10% in September, Germany’s Destatis reported on Friday. This reading came in higher than the market expectation of 10.1%.

Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, jumped to 11.6% from 10.9%, compared to analysts’ estimate of 10.9%. Monthly, the CPI and the HICP arrived at 0.9% and 1.1%, respectively, surpassing market forecasts.