Germany: Harmonized inflation surges to record high in November
Harmonized consumer prices rose 0.27% month-on-month in November, easing from the 0.54% increase recorded in October. November’s print reflected falling prices for alcoholic beverages and tobacco, and recreation and culture. Moreover, prices for transport and restaurants and hotels rose at a softer pace.
Harmonized prices jumped 6.0% in November, which followed October’s 4.6% increase. November’s result marked the highest print on record. Consequently, the trend pointed up, with annual average inflation coming in at 2.7% in November (October: 2.1%).