Germany's Federal Statistical Office reported on Wednesday the country’s consumer price index (CPI) is expected to increase 0.1 m-o-m in October after being unchanged m-o-m in the previous month.

On the y-o-y basis, Germany’s inflation rate is seen to rise 1.1 percent this month, following a 1.2 percent gain in September. That would be the lowest reading since February 2018.

Economists had predicted inflation would be flat m-o-m and would increase 1.1 percent y-o-y in October.

According to the report, food price growth decelerated to 1.1 percent y-o-y in October from 1.3 percent y-o-y in September, while energy prices fell 2.1 percent y-o-y, following a drop of 1.1 percent y-o-y in the previous month. Services costs rose 1.7 percent y-o-y in October after a 1.8 percent y-o-y climb in September.

Meanwhile, the harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is expected to increase 0.1 percent m-o-m and 0.9 percent y-o-y.