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| German inflation worse than expected | |
| (about 8 hours later) | |
| A preliminary forecast points to a double-digit level for the second straight month | A preliminary forecast points to a double-digit level for the second straight month |
| Inflation in Germany is expected to peak at 10.4% in October, according to preliminary figures released by the country’s national statistics authority. | Inflation in Germany is expected to peak at 10.4% in October, according to preliminary figures released by the country’s national statistics authority. |
| October looks to be the second consecutive month when the EU’s economic powerhouse will see inflation hit double digits. The rate picked up from 10.0% in September and is above the expected 10.1%, the Federal Statistical Office (Destatis) said on its website. | October looks to be the second consecutive month when the EU’s economic powerhouse will see inflation hit double digits. The rate picked up from 10.0% in September and is above the expected 10.1%, the Federal Statistical Office (Destatis) said on its website. |
| Energy prices were 43.0% higher in October 2022 than this time last year, and there was also an “above average” increase in food prices by 20.3%, Destatis adds. | Energy prices were 43.0% higher in October 2022 than this time last year, and there was also an “above average” increase in food prices by 20.3%, Destatis adds. |
| The agency will release its final figures for this month on November 11. | The agency will release its final figures for this month on November 11. |
| Consumer prices have been on the rise across the EU, with the bloc’s overall inflation rate climbing to almost 11% in September, driven by soaring energy and food costs. | Consumer prices have been on the rise across the EU, with the bloc’s overall inflation rate climbing to almost 11% in September, driven by soaring energy and food costs. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
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