German Inflation Rate Up to 1.3% in November


In November, Germany's consumer prices rose by 1.3 percent. The inflation rate had been 1.2 percent in October and 1.4 percent in September. The low rate was mainly due to falling energy prices.

As in the previous months, the low rate of inflation was mainly due to the falling prices of mineral oil products (-6.5 percent). Not considering the prices of heating oil and motor fuels, the inflation rate would have been +1.8 percent. Overall, energy prices were down 0.3 percent compared with one year earlier. 

The rise in food prices (+3.2 percent) has slowed down from October (4.2 percent). There were marked prices rises especially for edible oils and fats (+13.3 percent) and for dairy products and eggs (+8.5 percent). However, the rise in prices for meat and meat products (+1.8 percent) and fruit (+3.1 percent) was smaller than in the preceding months.

Total goods prices rose by 1.1 percent and total service prices rose by 1.5 percent in November 2013 compared with November 2012. Compared with October 2013, the consumer price index increased 0.2 percent.

German Inflation Rate Up to 1.3% in November


Destatis | Nuno Fontes | nuno@tradingeconomics.com
12/11/2013 8:50:32 AM