Germany's inflation rate, as measured by the year-on-year change in the consumer price index (CPI), rose to 2.2% in November.
This marks an increase from October, when the rate stood at 2.0%, after remaining below 2% for two months (1.6% in September and 1.9% in August 2024). The Federal Statistical Office (Destatis) reports that a notable increase in service costs was the main cause of inflation in November. On the other hand, energy prices still reduced inflation, although not as much as they had in prior months. When comparing prices to October, consumer prices fell by 0.2% in November.
Source: Destatis
Global markets remained dominated by dollar strength as geopolitical tensions and rising energy prices reshaped monetary expectations.
Oil Tanker Attacks Create VolatilityRecent strikes on oil tankers in the Persian Gulf have exposed the extreme vulnerability of global energy supplies. Footage of burning vessels near the Iraqi coastline has saturated financial media, serving as a reminder to market participants of the risks inherent in the region. Whenever tensions escalate in this region, energy traders immediately begin pricing in the possibility of supply disruptions.
Detail Dollar Leads as Markets Reprice Risk (03.12.2026)Currency markets remained under pressure as energy-driven inflation concerns and ongoing geopolitical tensions continued to support the U.S. dollar.
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