German inflation steady in October

Inflation in Germany, Europe's biggest economy, remained steady at the European Central Bank's pain threshold of 2.0 percent in October, official data showed on Friday. The German consumer price index (CPI) rose by 2.0 percent on a 12-month basis this month, according to final cost-of-living data from all of Germany's 16 regional states. The final data confirmed a flash estimate released at the end of last month. In September, the 12-month inflation rate had also stood at 2.0 percent. On a monthly basis, the cost of living in Germany was unchanged, the national statistics office Destatis said in a statement. Using the Harmonised Index of Consumer Prices (HICP), the ECB's inflation yardstick, the rate of inflation in Germany was also unchanged at 2.1 percent in October. The ECB defines price stability as increases in HICP of close to but just below 2.0 percent.