Germany’s YoY inflation reaches 3.2 percent in November

12/10/2023 8:55:08 AM

(MENAFN) Germany's annual consumer inflation for November was officially confirmed at 3.2 percent, marking the lowest rate since June 2021, as per data released on Friday.

This figure represents a decrease from October's 3.8 percent, primarily influenced by a slowdown in food inflation and a continued decline in energy prices, according to Destatis data.

Ruth Brand, the head of the statistics agency, noted that the rate of inflation has now slowed for the fifth consecutive month.

In November, energy product prices experienced a 4.5 percent year-on-year decline, attributed to a base effect, following a 3.2 percent drop in October.

The cost of food, rising by 5.5 percent year-on-year in November, reached nearly a two-year low, showing a further slowdown from October's 6.1 percent increase.

Core inflation, which excludes food and energy, moderated to 3.8 percent, marking the lowest level since August 2022.

On a monthly basis, consumer prices in November decreased by 0.4 percent, following no growth in October.

MENAFN10122023000045015839ID1107566275

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.