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Business

Inflation in Germany Set to Rise

Inflation in Germany, the eurozone's biggest economy, looked set to pick up this month as a result of a renewed surge in high oil prices, key regional data showed Friday. In the southwestern state of Baden-Württemberg, the consumer price index (CPI) rose by 0.3 percent in October from the figure for September and was 2.2 percent higher than it had been in October 2003, the regional statistics office in Stuttgart said in a statement. The 12-month rate of inflation was therefore faster than the 1.9 percent recorded the previous month. Similar developments were seen in cost-of-living data for two eastern states, Brandenburg and Saxony. In Brandenburg, regional CPI accelerated to 2.5 percent on a 12-month basis in October from 2.1 percent in September. And in Saxony, 12-month inflation stood at 1.8 percent this month compared with 1.5 percent last month.Preliminary pan-German inflation figures are calculated on the basis of consumer price statistics for six so-called indicator states -- Baden-Württemberg, Bavaria, Brandenburg, Hesse, North Rhine-Westphalia and Saxony. Baden-Württemberg, Brandenburg and Saxony are the first three indicator states to publish October CPI. (AFP)