By Emese Bartha
FRANKFURT--Germany's annual inflation rate picked further up in October, hitting its highest level since October 2014, the Federal Statistics Office said on Friday, confirming its first estimate.
Consumer prices calculated according to national standards rose 0.2% in October from September and were up 0.8% from October 2015, Destatis said, confirming its first estimate published on Oct. 28. It added that the annual inflation rate reached its highest level since October 2014.
The annual rate in September was 0.7%.
Consumer prices measured according to European Union standards rose 0.2% on the month and increased 0.7% on the year, Destatis said. This second estimate is also in line with analysts' forecast in The Wall Street Journal's survey and is unchanged from the preliminary figures.
As seen in previous months, energy prices put a downward pressure on the inflation rate, as they fell by 1.4% in October from the same month of 2015, Destatis said. That said, the pace of decline has continued to slow since July.
Food prices remained unchanged in October compared with a year earlier.
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(END) Dow Jones Newswires
November 11, 2016 02:30 ET (07:30 GMT)
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