German inflation jumped to 2% in October, exceeding expectations and fueled by rising food prices.

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German inflation jumped to 2% in October 2022, a notable increase from 1.6% in September. This rise exceeded economists’ expectations of 1.8%, signaling potential economic concerns.

Food prices played a significant role, with food inflation accelerating to 2.3%, up from 1.6% the previous month. This surge reflects ongoing supply chain challenges and higher production costs impacting consumers directly.

Energy prices also continued to rise, compounding the inflation issue. As costs for essential goods climb, household budgets feel the squeeze.

Core CPI, which excludes volatile food and energy prices, also saw an uptick, moving from 2.7% in September to 2.9% in October. This trend indicates broader inflationary pressures across various sectors.

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