Germany's consumer price inflation accelerated faster than expected in October to set a new record, as the biggest euro area economy heads into a recession, adding more pressure on the European Central Bank policymakers who have signaled more interest rate hikes ahead.
The consumer price index rose 10.4 percent following a 10.0 percent increase in September, preliminary data from the statistical office Destatis showed Friday. Economists had forecast a modest increase to 10.1 percent. Headline inflation accelerated for a third month in a row. The CPI climbed 0.9 percent monthly in October, which was much slower than September's 1.9 percent, but faster than the 0.6 percent economists had expected.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.