In October, Germany’s annual inflation was verified to have dropped to a 27-month low

The German consumer price index is unchanged on a monthly basis.

According to the official figures issued on Wednesday, a halt in the rise in food costs and a decline in energy prices allowed Germany’s annual consumer inflation to be confirmed at a 27-month low in October.

According to figures from the Federal Statistical Office (Destatis), consumer prices rose 3.8% year over year in October, slowing down from a 4.5% increase in September.

According to Ruth Brand, president of Destatis, the inflation rate continued to be higher than both the medium- and long-term estimates notwithstanding the decline.

“In particular, consumers are still feeling the higher food and energy prices, which have risen during the extended period of war and crisis,” Brand stated.

After rising 1% in September, the price of energy products fell 3.2% in October compared to the same month the previous year.

October saw a 6.1% increase in food costs over the same month last year, down from a 7.5% increase in September. The annual food inflation rate for October was the highest since February 2022.

Monthly consumer prices in October did not differ from those in September.