Germany's annual inflation rises to 3.7% in December, meeting market expectations

On monthly basis, consumer prices index increases 0.1% in December, preliminary data shows

By Tuba Ongun

Germany's annual consumer inflation rose to 3.7% in December, meeting market expectations, according to flash data released on Thursday.

The figure was up from November's over 2-year low of 3.2%, due to a surge in energy costs, Destatis data showed.

Energy prices gained 4.1% at an annualized pace in December, shifting from a 4.5% decline in November.

The year-on-year hike in food prices weakened further in December 2023, at 4.5%, compared to 5.5% in November 2023.

The core inflation, excluding food and energy, slowed to 3.5% in December, marking its lowest level since July 2022.

On a monthly basis, consumer prices increased by 0.1%, switching from a 0.4% decline in November.

For 2023 as a whole, the average inflation rate came in at 5.9%, said Destatis.

Kaynak:

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