German inflation eases slightly in November: data

28th November 2011, Comments 0 comments

Inflation in Germany eased fractionally in November, continuing to come down from a three-year high recorded in September, official data showed Monday.

The consumer price index for the eurozone's largest economy rose by 2.4 percent on a 12-month basis in November, compared with 2.5 percent in October, the national statistics office Destatis said in a statement.

In September, inflation had reached 2.6 percent, the highest level in Germany in three years.

On a monthly basis, the cost of living was unchanged, the statisticians calculated on the basis of consumer price data for six key German states.

As in previous months, rising household energy costs, in particular for heating oil and gas, were the main factor behind the elevated level of inflation, it said.

Using the EU's Harmonised Index of Consumer Prices or HICP, which is the European Central Bank's inflation yardstick, the cost of living in Germany rose by 2.8 percent on a 12-month basis in November, slightly lower than the 2.9 percent recorded in October.

The ECB aims to keep inflation close to, but below 2.0 percent.

The preliminary inflation data are calculated using consumer price data for six of Germany's 16 federal states.

Final data, based on statistics for all 16 states, are scheduled to be published on December 9.

© 2011 AFP

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