Germany's annual inflation confirmed at 3.2% in November

By Tuba Ongun

Germany's annual consumer inflation was confirmed at 3.2% in November, the lowest rate since June 2021, according to official data released on Friday.

The figure was down from 3.8% in October with a slowdown in food inflation and a further fall in energy prices, the Destatis data showed.

The rate of inflation slowed for the fifth consecutive month, says Ruth Brand, the statistics agency head.

Energy product prices in November dropped 4.5% from a year ago due to a base effect, accelerating a decline of 3.2% in October.

The cost of food rose 5.5% year-on-year in November, at nearly a two-year low, slowing further from October's 6.1% rise.

Core inflation, excluding food and energy, cooled to 3.8%, the lowest since August 2022.

On a monthly basis, consumer prices in November ticked down 0.4%, after showing no growth in October.