ISTANBUL

The consumer prices in Germany posted an increase of 2% in October on a yearly basis, federal statistical authority Destatis revealed on Tuesday.

It was at 1.6% in September and 1.9% in August but dropped from 3.8% in October 2023.

The price hike stemmed from rise in food prices and ongoing above-average price increases for services.

"By contrast, the development of energy prices again had a dampening effect on the inflation rate in October 2024," it noted.

Compared with September 2024, consumer prices rose by 0.4% in October 2024 on a monthly basis.