Destatis released its consumer price data for Germany on Thursday. German preliminary consumer price index was flat in October, beating expectations for a 0.1% decline, after a 0.2% fall in September.

On a yearly basis, German preliminary consumer price index increased to 0.3% in October from 0.0% in September, exceeding expectations for a rise to 0.2%.

The annual increase was mainly driven by a rise in services prices, which were up 1.2% year-on-year in October.

Goods prices dropped 0.8% year-on-year in October, driven by a decline in energy prices. Energy prices slid 8.6% year-on-year in October.