Financial News: German Inflation Rises To 2.2%

German Inflation Rises To 2.2%

11/28/2024 - 09:21:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation increased further in November to the highest level in four months, provisional data from Destatis showed on Thursday.

The consumer price index registered an annual increase of 2.2 percent in November, following a 2.0 percent rise in October. Economists had expected an increase of 2.3 percent.

The slowdown in the decline of energy prices had an upward effect on inflation. The yearly decrease in energy costs softened to 3.7 percent from 5.5 percent. Meanwhile, food prices rose at a slower pace of 1.8 percent versus 2.3 percent in October.

On a monthly basis, consumer prices dropped 0.2 percent in November, as expected.

Inflation, based on the harmonized index of consumer prices, stood at 2.4 percent versus an expected rise of 2.6 percent. Monthly, the HICP dropped 0.7 percent.

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