Germany’s EU measure of inflation slowed to its lowest level in five years in November, preliminary data from the Federal Statistical Office showed Thursday.
The harmonized index of consumer prices rose 0.6 percent year-on-year following 0.7 percent increase in October. The figure was in line with economists’ expectations.
The latest HICP annual inflation figure was the lowest since November 2009, when it was 0.3 percent.
The consumer price index climbed 0.6 percent annually during November after rising 0.8 percent in October. That was also in line with economists’ predictions.
It was the lowest rate since February 2010, when the figure was 0.5 percent.
In November, both the HICP and the CPI remained unchanged from the previous month, also matching economists’ expectations.
The statistical office is set to release the final inflation figures for November on December 11.
German unemployment reached the lowest in more than two decades in November, data from the Federal Labor Agency showed earlier today.
Elsewhere, the monthly survey by the GfK showed that German consumer confidence is set to strengthen further in December, as income expectations and willingness to buy improved for a second straight month from higher levels.
The material has been provided by InstaForex Company – www.instaforex.com