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.