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German inflation unchanged at +0.9% in October

BERLIN, Oct 30 (Reuters) - German annual inflation remained unchanged in October after falling three consecutive months, data showed on Wednesday.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 0.9% year-on-year after posting the same increase in the previous month, the Federal Statistics Office said.

The reading was the lowest since November 2016 and beat a Reuters forecast for 0.8%.

It marked the fifth month in a row that the inflation figure remained well below the European Central Bank’s target level of close to but below 2% for the euro zone.

On the month, EU-harmonised prices rose by 0.1% in October. Analysts had expected an unchanged reading.

Reporting by Michael Nienaber; editing by Thomas Seythal