DAX Index Subdued as German Inflation Accelerates

11:53 AM EDT, 10/13/2026 (MT Newswires) -- The blue-chip DAX index ended the trading session 0.07% in the red on Tuesday, as investors digested the latest German inflation data alongside updated economic growth forecasts from the International Monetary Fund. Final data from Destatis confirmed that the annual inflation rate in the eurozone's largest economy rose to 3.3% in September from 2.9% in August. The annual core inflation rate, which excludes food and energy prices, stood at 2.4%, similar to the previous month. "The rate of inflation exceeded the three percent mark in September, and therefore reached a new record high this year. This was also the highest level recorded since December 2023," Federal Statistical Office President Ruth Brand said. "Once again, the development of energy prices was responsible for the increase in the inflation rate. The rise in prices was particularly evident in the price of mineral oil products at filling stations and in the price of heating oil." Meanwhile, the International Monetary Fund raised its growth forecasts for Germany, even as the global economy faces supply disruptions from the Middle East conflict and a cooling technology cycle. The IMF now expects the country's economy to expand 1.3% in 2026 and 1.1% in 2027, up from its July forecasts of 0.7% and 1%, respectively. Turning to inflation, consumer price growth is expected to reach 2.7% in 2026 before accelerating to 3.1% in 2027. In energy markets, Brent crude fell Tuesday morning, though geopolitical risk kept the decline in check. President Volodymyr Zelenskyy promised retaliatory strikes in response to continued Russian hits on Ukraine's energy grid, dampening immediate prospects for a truce previously declared by US President Donald Trump. Concurrently, Houthi strikes shuttered Riyadh airport, prompting airline cancellations to the Saudi Arabian capital. On the corporate side, BMW (BMW.F) reported that its third-quarter vehicle sales fell 6.3% year over year to 551,072 units, bringing year-to-date deliveries down 4.9% to 1,707,799 vehicles. Despite the broader decline, global sales of fully electric vehicles grew 7.2% in the third quarter to 110,257 units. The German carmaker climbed 2.56%. Meanwhile, BofA Global Research forecasts accelerated broadband growth for Deutsche Telekom's (DTE.F) second half ahead of the German telecommunications company's third-quarter results due on Nov. 5. "Topline trends remain constructive: broadband growth should accelerate in H2 as back-book pricing from April adds to fixed service revenue growth with a small improvement in net adds. Mobile service revenue should continue to track well versus the 2.0-2.5% corridor," the research firm said in a third-quarter preview note focused on European telcos. Deutsche Telekom closed the trading day 0.52% higher.