German consumer prices edged higher in November

The cost of living in Germany edged higher in November as the pace of declines in energy prices slowed.

Germany’s consumer price index increased by 0.4% year-on-year in November, up from the 0.3% pace registered in the month before, according to the Federal Office of Statistics.

Nonetheless, that was still lower than the year’s peak rate of 0.7% reached in May.

The data confirmed the preliminary readings published on 30 November.

Energy prices fell at a 7.5% year-on-year clip in November, after having decreased by 8.6% in October and 9.3% in September.

Food prices gained 2.3% year-on-year in November, accelerating after a rise of 1.6% in October.

The cost of living increased by 0.1% month-on-month.

In harmonised terms the CPI advanced 0.1% month-on-month and 0.3% year-on-year, which was also as expected.