German inflation eases slightly in November: final data

9th December 2011, Comments 0 comments

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

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 final data confirmed a preliminary estimate published at the end of last month.

As in previous months, rising household energy costs, in particular for heating oil and gas, were the main factors 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.

© 2011 AFP

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