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
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