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Financial News: German Inflation Accelerates As Estimated In December

German Inflation Accelerates As Estimated In December

01/18/2017 - 02:36:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation quickened in December to its highest level since the middle of 2013, in line with the flash data published earlier, latest figures from Destatis showed Wednesday.

The consumer price index rose 1.7 percent year-over-year in December, confirming the preliminary data released on January 3. In November, prices had risen at a stable pace of 0.8 percent.

Moreover, the latest figure was the highest since July 2013, when inflation was 1.9 percent.

Energy prices had a considerable effect on the inflation rate in December. It rebounded 2.5 percent after declining in the previous months. Food prices also grew at a same pace in December as compared to last year.

Excluding energy prices, the inflation rate in December was 1.6 percent, markedly higher than in the prior months.

Month-on-month, consumer prices climbed 0.7 percent from November, when it increased by 0.1 percent. The figure also matched preliminary report.

The EU measure of inflation, or HICP increased at a faster pace of 1.7 percent yearly in December, following a 0.7 percent rise in November. It also marked the strongest inflation since July 2013.

Compared to previous month, the HICP went up 0.7 percent at the end of the year. This confirmed the flash HICP figures published earlier.

Data also revealed that the annual average CPI inflation was 0.5 percent in 2016 versus 0.3 percent in the previous year. The HICP inflation was 0.4 percent compared to a flat reading in 2015.

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