FXstreet.com (Barcelona) - Consumer prices have moderated in December in Germany on the back of lower prices for mineral oil products, although the CPI average for 2008 has been the highest in 14 years, according to figures by Destatis.
German CPI has risen 0.3% in December from November, while it has gone 1.4% up compared to the sane month last year. Inflation was below the year average ion December for second consecutive month, due to the decline in world market prices for crude oil.
The annual average consumer prices index for the year 2008 has been 2.6% above the level in 2007, that is the largest year on year average since the 2.8% posted in 1994. Inflation was unusually high in the first half of 2008, and began a fast decline in the second half as petrol prices declined worldwide.