Germany's inflation climbs to 2.2%, core rate hits 3%

Germany’s annual inflation rate increased to 2.2% in November 2024, up from 2% in October, aligning with preliminary estimates and reaching a four-month high.

Germany's inflation climbs to 2.2%, core rate hits 3%

Services inflation held steady at 4%, while energy prices fell more moderately (-3.7% vs -5.5% in October). Food inflation eased to 1.8% from 2.3% previously. Every month, consumer prices dropped by 0.2%, as expected, following a 0.4% rise in October. Core inflation, which excludes food and energy, climbed to a six-month high of 3% in November.

EU-harmonised inflation steady at 2.4%, monthly prices drop 0.7%

As initially reported, the EU-harmonised inflation rate remained stable at 2.4% annually, while month-on-month harmonized prices fell by 0.7%, reversing a 0.4% gain in October.