Consumer prices in Germany have further accelerated in December 2024, with the inflation rate expected to be 2.6 percent, the Federal Statistical Office announced on Monday. In November, the rate of inflation was 2.2 percent, and in October, it was 2.0 percent. Compared to the previous month, consumer prices are likely to have risen by 0.4 percent in the last month of the year.
The more informative inflation rate without food and energy, often referred to as the core inflation, has meanwhile increased to 3.1 percent in December, from 3.0 percent in November. This is still significantly higher than the overall index.
Energy prices were lower in December than in the same month last year (-1.7 percent). The price increase for food was 2.0 percent, and the prices for services rose by 4.1 percent.