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3mo ago

Germany Inflation Holds at 2.3% in November as Services Prices Stay Firm

Services-driven core pressures offset cheaper energy, leaving price growth unchanged on the year.

Eine Frau kauft in einem Supermarkt ein.
Die Inflation in Deutschland bleibt hoch: Im November stiegen die Verbraucherpreise um 2,3 Prozent im Vorjahresvergleich, wie das Statistische Bundesamt in Wiesbaden mitteilte. Schon im Oktober hatte die Teuerung bei 2,3 Prozent gelegen. 
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Overview

  • Preliminary Destatis data show the consumer price index up 2.3% year over year in November and down 0.2% on the month, with the harmonized index at 2.6% year over year and −0.5% month over month.
  • Core inflation is estimated at about 2.7% year over year, led by services prices rising roughly 3.5%.
  • Food prices increased around 1.2% from a year earlier, while energy costs were 0.1% lower.
  • October trade prices point to easing cost pressures from abroad, with import prices down 1.4% year over year on a 15.1% drop in energy imports, and export prices up 0.5%.
  • The November figures are preliminary, with final results due on 12 December.