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German Inflation Slows In November As Expected

November 28, 2012 RTTnews
Germany's EU measure of inflation slowed in November, in line with economists' expectations, preliminary data from Destatis showed Wednesday.

The harmonized index of consumer prices rose 2 percent annually, following October's 2.1 percent increase. The index, however, declined 0.1 percent from the previous month, which also matched expectations.

The European Central Bank targets inflation "below, but close to 2 percent".

The consumer price index climbed 1.9 percent year-on-year in November, after rising 2 percent in October as well as September. The gauge fell 0.1 percent from the previous month. Both outcomes were in line with economists' expectations.

The agency is set to release the final figures on December 12.
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