German inflation accelerates to 1.5% in December

According to the Federal Statistical Office of Germany (Destatis), consumer prices, calculated according to national standards, increased by 1.5% in December in annual terms. In November annual inflation was 1.1%.  Prices rose by 0.5% relative to the previous month. These data coincided with the preliminary and consensus forecast of experts.

Prices for food and non-alcoholic drinks in Germany last year in annual terms rose by 1.9% and by 0.5% per month. Services rose in price by 1.8% per year and 0.9% per month. Prices for clothes and shoes increased by 2.4% and decreased by 1%, respectively. Gasoline lost 4.3% per year and 0.7% per month.

Consumer prices calculated according to European Union standards last month grew by 1.5% in annual terms and by 0.6% in monthly terms, which also coincided with the first estimates and market expectations. The annual increase in prices has become the highest since June of this year.