The inflation rate excluding food and energy, often referred to as core inflation, is expected to be 4.3 per cent, the Federal Statistical Office (Destatis) said in a press release.
The year-on-year (YoY) drop in energy prices of 3.2 per cent had a particularly dampening effect on the rate of inflation in October 2023. A base effect due to the very high energy price level in the previous year applied here. Prior to this, energy prices last declined YoY in January 2021 at -2.0 per cent compared with January 2020.
ALCHEMPro News Desk (NB)
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