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11/29/2023, 2:01 PM (Source: TeleTrader)
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German inflation slows to 3.2% in November

Annual inflation in Germany stood at 3.2% in November, the Federal Statistical Office (Destatis) said in its preliminary report on Wednesday. The figure was slightly lower than the 3.8% recorded in October and below analysts' forecasts.

Month-over-month, the Consumer Price Index (CPI) fell by 0.4%. The Harmonized Index of Consumer Prices went up by 2.3% compared to the same timeframe a year prior, but fell 0.7% on a monthly basis. Annual core inflation, which excludes food and energy, stood at 3.8%.

The report noted that "this is the lowest level since June 2021" while adding that food costs rose 5.5% compared to November 2022. Meanwhile, energy prices dropped 4.5% on a yearly basis, contributing to the declining trend of inflation in Germany.

Baha Breaking News (BBN) / RR