Consumer prices were unrevised in the final look at September. A 0.4 percent monthly rise put the annual inflation rate at 2.3 percent, up from 2.0 percent in the final August report and its highest mark since November 2011.
The flash HICP was similarly unrevised and so still shows a 0.4 percent monthly increase for a 2.2 percent yearly rate, also 0.3 percentage points stronger than its final mid-quarter print.
The acceleration in annual CPI inflation in part reflected higher rates in energy (7.7 percent after 6.9 percent) and food (2.8 percent after 2.5 percent). As a result, excluding these categories developments were a good deal softer although even minimal a 0.1 percent monthly gain in prices saw the underlying rate climb a couple of ticks to 1.5 percent. That said, the annual core rate was still only back at its level at the start of 2018.
Consequently, while inflationary pressures may be building, they continue to feed through into consumer prices only quite slowly. Today's German update has no implications for any revision to the flash Eurozone inflation data.