German inflation confirmed at 2.2% in November
German inflation was confirmed at 2.2% in November, the federal statistics office said on Tuesday.
The figure marked a rise from October’s 2%. Core inflation, which excludes volatile food and energy prices, was at 3% in November up from 2.9% in the previous month.
Energy prices in Europe's biggest economy fell 3.7% compared with the previous year, while food prices were up 1.8% year-on-year in November.
“Inflation in November 2024 was particularly fuelled by above-average price increases for services,” the statistics office said.
“By contrast, the development of energy prices again had a dampening effect on the inflation rate in November 2024, but the effect was less pronounced than in the previous months.”
Reporting by Frank Prenesti for Sharecast.com