Annual inflation in Germany jumps to 10% in September vs. 9.4% expected

Annual inflation in Germany, as measured by the Consumer Price Index (CPI), climbed to a record high of 10% year-on-year in September from 7.9% in August. This reading came in higher than the market expectation of 9.4%.

Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank's preferred gauge of inflation, jumped to 10.9% from 8.8%, compared to analysts' estimate of 10%.

On a monthly basis, the CPI and the HICP arrived at 1.9% and 2.2%, respectively, surpassing market forecasts.

Earlier today the final Euro Area consumer confidence figures showed economic sentiment weakening further, while the headline consumer confidence reading was confirmed at -28.8, the lowest reading since the series began.