BERLIN (Reuters) – Inflation in Germany rose more than expected in December, according to preliminary data released on Monday by the Federal Statistical Office.
In the last month of the year, inflation stood at 2.9% after 2.4% in November and while analysts polled by Reuters were counting on an increase of 2.6%.
Core inflation, which does not take into account volatile food and energy prices, increased to 3.1% from 3.0% in November.
Energy prices fell 1.7% year-on-year, while food prices rose 2% in December, the data showed.
Analysts are paying particular attention to German inflation, with the country publishing its data a day before those of the euro zone.
They expect inflation in countries that share the single currency to rise to 2.4% in December from 2.2% in November.
The European Central Bank (ECB) expects inflation to stabilize at the target figure of 2% this year after it exceeded 10% following Russia’s invasion of Ukraine.
(Written by Maria Martinez and Friederike Heine; Pauline Foret, edited by Blandine Hénault and Kate Entringer)
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