German inflation in October rises less than forecast

German inflation in October rose an estimated 0.7% year-on-year, less than the analysts' forecasts for 0.9% on a harmonised basis, the Federal Ministry of Finance revealed on Thursday.

It follows an 0.8% increase a month earlier, adding to concerns about the health of Europe’s biggest economy.

The European Central Bank, which is targeting inflation of just below 2%, has been under mounting pressure to address low inflation in the Eurozone.