German consumer prices, harmonized for comparison with other European countries, rose 11.6% year-on-year in October, the Federal Statistical Office in Germany said Friday, confirming preliminary data, after recording the 10.9% YoY in September, at an unfair price on fixed rates.
On an uncoordinated basis, consumer price inflation was confirmed at 10.4%, Reuters reported.
German retail association HDE said on Thursday that German consumers and businesses are facing a tough Christmas shopping season, in light of double-digit inflation and higher energy prices, forecasting a decline in sales in terms adequate.
In the last two months of 2022, HDE expects sales to increase 5.4% year-over-year in nominal terms. However, in terms of adequate pricing, sales are facing a 4% decline.
The data showed that German households currently pay almost double the average value gas bill Annually compared to last year, despite the lower consumption and greater supplies that flow into the country.
Eurozone consumer price growth accelerated to 10.7% in October from 9.9% in September, with inflation in Germany, Italy and France rising more than expected, according to data released by the statistical office. of the European Union (Eurostat).
