Germany inflation eases to 2.3% in October, core steady at 2.8%

Germany's annual inflation rate eased slightly to 2.3% in October, provisional data from the Federal Statistical Office showed Thursday.

The consumer price index rose 2.3% year-on-year, down from 2.4% in September, while prices increased 0.3% month-on-month. The figure came above FXStreet-cited consensus of a 2.2% rise.

Core inflation, which excludes food and energy, remained steady at 2.8%, underscoring ongoing price pressures in services.

The harmonised index of consumer prices - the measure used for euro area comparisons - also rose 2.3% annually and 0.3% on the month, matching the national index.

Destatis said services inflation accelerated to 3.5% in October from 3.4% in September, while goods prices rose 1.2%, compared with 1.4% in the prior month.

Final figures for October will be published on November 12.