City
Epaper

German inflation rises to 2.2 pc in November

By IANS | Updated: November 29, 2024 06:25 IST

Berlin, Nov 29 German inflation is expected to rise to 2.2 per cent year-on-year in November, up 0.2 ...

Open in App

Berlin, Nov 29 German inflation is expected to rise to 2.2 per cent year-on-year in November, up 0.2 percentage points from the previous month, the Federal Statistical Office (Destatis) said.

After hitting a three-year low of 1.6 per cent in September, the inflation rate in Europe's largest economy has been on a rising trend, but still stays close to the 2-per cent target set by the European Central Bank (EBC) in November, Xinhua news agency reported.

According to the preliminary date of Destatis, the continued rise in inflation is largely driven by a gradual narrowing of the year-on-year decline in energy prices over recent months.

As for Germany's core inflation, which excludes energy and food, is on an upward trend in recent months, primarily due to significant increases in service prices. It is expected to reach 3 per cent in November.

Experts anticipate that inflation in Germany will remain slightly elevated in the near term due to persistent energy base effects and rising wages.

However, Carsten Brzeski of ING Research noted that wage growth could slow as the labor market shows signs of cooling, which would likely ease inflationary pressures in 2025.

He expected that the consumer price increases in Germany would stay within the range of 2 per cent to 2.5 per cent throughout the coming year.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

Other SportsMarkram, Bavuma return for South Africa white-ball series against Australia

National2006 Mumbai blasts Owaisi slams Centre, Maharashtra for filing appeal against Bombay HC order

BusinessMuch-awaited India-UK trade deal inked in Modi-Starmer's presence

NationalShirdi: 'Talwar Baba' Calls for Removal of Sai Baba Idols, Devotees Demand Legal Action

MaharashtraMaharashtra: Reputed Builder from Nagpur Dies Under Mysterious Circumstances; Suicide Suspected

International Realted Stories

InternationalSouth Korea-US '2+2' trade talks postponed due to Bessent's urgent schedule: finance ministry

InternationalNEP gets global push as UK-India trade deal recognises education as core pillar of strategic ties

InternationalPM Modi meets Keir Starmer ahead of key FTA deal signing

InternationalUS Prez Trump asks tech giants to stop building factories, hiring from India, other countries

InternationalPM Modi meets UK counterpart Keir Starmer in London