A preliminary report from the German Federal Statistical Office showed that annual inflation slowed to 2.4% in October from 2.9% in September. The September inflation was down from 3.1% in August.
On a monthly basis, consumer prices were down 0.2%, quicker than a 0.1% fall in the previous month. Both annual and monthly figures matched economists' expectations. The preliminary report is based on results from six Lander.
According to the statistical office, inflation slowed mainly due to a decline in prices of petroleum products and the final data for October will be released on November 14.
The harmonized index of consumer prices, or HICP, rose at a slower pace of 2.5% year-on-year, compared with 3% increase in September. That was below the expected growth of 2.6%. Month-on-month, the HICP fell 0.3%, while the consensus forecast was for a 0.2% fall.
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