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Germany’s consumer price inflation rate is expected to accelerate to 4.5% year-on-year in October 2021, the highest since October 1993 and compared with market expectations of 4.4%, adding to concerns over inflationary pressure in Europe’s largest economy. Preliminary estimates showed goods inflation likely accelerated to 7.0% from 6.1% in September, boosted by energy (18.6% vs 14.3%), while food inflation eased (4.4% vs 4.9%). In addition, services inflation is expected to tick down to 2.4% (from 2.5%), with rents inflation remaining unchanged at 1.4%. On a monthly basis, consumer prices are expected to increase 0.5%, after remaining unchanged in the two past months.