German import prices were unchanged in October compared to September, and were up 0.2pc year-on-year, the Federal Statistics Office said. Adjusted to exclude crude oil and petroleum products, import prices rose 0.1pc in October from September and were down 1.1pc year-on-year, it said. Export prices were unchanged compared to September and were up 0.5pc year-on-year. The Federal Statistics Office also released figures which showed producer prices in Germany rose 0.3pc in October from September, and were up 0.3pc year-on-year.
Market consensus was for prices to be unchanged in October compared to September, and for them to be down 0.1pc year-on-year. The year-on-year rise was the first rise this year, although in the main the rise is due to a strong favourable basis effect, the statistics office said. Without the energy prices component, producer prices were up 0.5pc year-on-year, it said. However, the figures show that pipeline inflation remains well in control and unlikely to push the overall inflation rate significantly ahead. //www.fxcentre.com