Dow Jones Newswires: German inflation hits highest level in more than 70 years

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By Emese Bartha


Germany’s annual inflation rate accelerated in October, hitting the highest reading since December 1951, according to final data released by the German statistics office on Friday.

The consumer price index rose 10.4% in October on year measured by national standards, up from 10.0% in September, the statistics office Destatis said, confirming its preliminary figures.

“The main causes of high inflation continue to be enormous price increases for energy products, but prices are also increasing for many other goods and services,” Destatis President Georg Thiel said. “Rising food prices are now particularly noticeable for private households,” he said.

Consumer prices rose 11.6% on the year by European Union harmonized standards, up from 10.9% in September, Destatis said, also confirming its first estimate.


Write to Emese Bartha at emese.bartha@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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