Germany’s consumer prices rose for a second consecutive month in November and at the fastest pace in five months, preliminary figures from Destatis showed Monday.
The consumer price index climbed 0.4 percent year-on-year following 0.3 percent increase in October. Inflation was in line with economists’ expectations.
The latest inflation figure was the highest since May, when it was 0.7 percent. Energy prices tumbled 7.5 percent, while food prices rose 2.3 percent.
On a month-on-month basis, prices rose 0.1 percent in November, also matching economists’ consensus. In October, prices were flat.
The EU measure of inflation, the harmonized index of consumer price or HICP, also increased for a second straight month in November.
The HICP climbed 0.3 percent annually after a 0.2 percent gain in the previous month. The increase was the fastest since May’s 0.7 percent rise. Month-on-month, the HICP edged up 0.1 percent in November.
Both HICP rates were in line with economists’ expectations.
The agency is set to release the final figures for November inflation on December 11.
The material has been provided by InstaForex Company – www.instaforex.com