Germany Annual Inflation Remains Steady at 2.3 Percent
The rate came in below market projections of 2.4% for November.
Service and food costs drove inflationary pressure with above-average gains of 3.5% and 1.2%, respectively.
Food price increases decelerated from October's 1.3%, the Federal Statistical Office (Destatis) reported.
Energy costs extended their downward trajectory in November, declining 0.1% year-over-year, though at a more modest pace than October's 0.9% drop.
Inflation measured 2.4% in both October and September, rising from August's 2.2% and the 2% recorded in July and June—the lowest reading since last October.
Consumer Price Index data showed 2.1% in May and April, with March at 2.2%, all declining from December's 14-month peak of 2.6%.
Core inflation—the annual rate excluding food and energy components—eased to 2.7% in November from October's 2.8% on a year-over-year comparison.
Month-to-month consumer prices dropped 0.2% in November, reversing the prior month's 0.3% increase and aligning with market consensus.
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