German Oct inflation hits 2-yr high – preliminary data

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FRANKFURT: German inflation picked up again in October to reach a two-year high, data showed Friday,
suggesting the European Central Bank’s unprecedented stimulus measures to boost prices may be delivering.

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Inflation rose by 0.8 percent this month compared to the year before, according to preliminary figures from Germany’s federal statistics office Destatis, the first time it has hit that level since October 2014.

The jump comes after inflation in Europe’s economic powerhouse already soared to a 16-month high in September.

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