German inflation at 1.1 percent in 2010: statistics

29th December 2010, Comments 0 comments

German inflation reached 1.1 percent this year, according to provisional figures released on Wednesday by the national statistics office.

The result was markedly higher than the 2009 figure of 0.4 percent, but that had represented a record low since German reunification in 1990.

In December, Europe's biggest economy posted inflation of 1.7 percent on a 12-month basis, the Destatis statistics office said.

The results remained well below the European Central Bank's medium-term inflation target of below but close to 2.0 percent, but marked a sharp upturn nonetheless.

On a monthly basis, consumer prices gained 1.0 percent in December, Destatis said.

Throughout the year, inflation was driven by higher costs for crude oil and other energy products and rising prices for fruits and vegetables, it added.

© 2010 AFP

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