Inflation & Prices
German Inflation Jumps Less Than Expected in Boost for ECB
- Consumer prices rose 3.8% from year ago in December; est. 3.9%
- Surge largely due to one-time energy aid payments in late 2022
Shoppers in Nuremberg, Germany.
Photographer: Ben Kilb/BloombergThis article is for subscribers only.
German inflation quickened less than anticipated in December — reflecting a more muted boost from energy that may help keep wage demands at bay and allow a faster return to the European Central Bank’s 2% target.
Consumer prices rose by an annual 3.8%, the statistics office said Thursday. That’s less than the 3.9% predicted by economists, though up from 2.3% in November. The reading for 2023 as a whole was 6%.