FXstreet.com (Barcelona) - Consumer prices have risen slightly above the expectations in Germany in November, pushed by food and energy prices which posted high year on year advances, according to the German statistics office, Destatis.

Prices at consumer level increased 0.5% in November, following a 0.2% rise in October, while they increased 3.1% on the year, this is the first time since 1994 that prices rise above the 3.0%.

The reason for such high CPI has been the increasing prices of food and energy, which accounted for half of the yearly price rise, excluding food and energy, prices would have increased 2.2% on the year. Fuel prices have risen 23.7% on the year, in the case of liquid fuel, while motor fuel rose 18.6% from November 2006. Food prices have jumped an average of 5.8% on the year.