Ekonomické zprávy
29.11.2021

Germany’s annual CPI surges 5.2 percent in November

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.

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