Inflation & Prices
German Inflation Up More Than Expected in December
- Consumer prices rise 2.8% from year ago in December; est. 2.6%
- Increase driven by energy, food costs, statistics agency says
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German inflation accelerated more than anticipated last month, backing the European Central Bank’s plans to keep cutting interest rates only gradually.
Consumer prices rose 2.8% from a year ago in December, up from 2.4% in the previous month. That’s higher than all but one estimate in a Bloomberg survey of 21 analysts. The acceleration was driven by energy and food costs, the statistics office said.