Central Banks
German Inflation Unexpectedly Holds Steady, Backing ECB Cuts
- Consumer prices rose 2.4% from year ago in November; est 2.6%
- ECB officials are hammering out pace, extent of further cuts
Shoppers in Alexanderplatz, Berlin.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
German inflation unexpectedly remained unchanged in November, backing arguments for the European Central Bank to continue lowering interest rates.
Consumer-price growth in Europe’s largest economy held at 2.4% — below the 2.6% median estimate in a Bloomberg survey. A moderation in food costs offset energy base effects, according to statistics agency Destatis, and may explain the undershoot.