German Inflation Holds Steady In November; Helped By Low Energy Prices

 
on December 11 2013 3:01 AM
Germany_Power
Houses are pictured in front of the coal power plant of German utility RWE Power near the western town of Niederaussem on Nov. 14, 2013. Reuters/Ina Fassbender

Consumer price inflation, or CPI, in Germany remained unchanged in November, in line with market expectations, data released by the Federal Statistical Office showed.

Germany’s annual CPI grew by 1.3 percent in November, the rate of growth being the same as in the previous month, while on a month-on-month basis, inflation grew by 0.2 percent. CPI grew by 0.2 percent in October, as estimated by analysts.

The low rate of inflation was mainly due to falling prices of mineral oil products, which fell 6.5 percent. Overall energy prices were down 0.3 percent compared with last year, helping to counter rising electricity prices (11.4 percent), the data showed.

Although the rise in prices moderated during the month, food prices continued to remain significantly higher than overall inflation, surging by 4.2 percent on a yearly basis.  

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