Germany's
Federal Statistical Office (Destatis) reported on Monday the country’s consumer
price index (CPI) is expected to decline 0.2 percent m-o-m in November after climbing
0.5 percent m-o-m in the previous month. This would be the first monthly drop
since December 2020.
On
the y-o-y basis, Germany’s CPI is seen to surge 5.2 in November, following a 4.5
percent jump in October. This represents the largest advance since June 1992.
Economists
had predicted inflation would fall 0.4 percent m-o-m but jump 5.0 percent
y-o-y in November.
According
to the report, energy prices soared 22.1 percent y-o-y in November, accelerating
from 18.6 percent y-o-y in the previous month. In addition, food prices rose 4.5
percent y-o-y, quickening from 4.4 percent y-o-y in October, and services costs
increased 2.8 percent y-o-y, hastening from 2.4 percent y-o-y in October.
Meanwhile,
the harmonized index of consumer prices for Germany (HICP), which is calculated
for European purposes, is expected to rise 0.3 percent m-o-m and 6.0 percent
y-o-y.