German inflation drops to 11.3% in November – POLITICO
FRANKFURT — German inflation fell slightly in November to 11.3% from 11.6% in October, the country’s statistics office reported on Tuesday.
The reading is in line with the median forecast from a Reuters survey of analysts.
Measured by national standards, inflation fell to 10 percent from 10.4 percent the previous month, the data showed.
Earlier in the day, the Spanish statistics agency, INE, announced a fall in harmonized inflation to 6.6% from 7.3% in October, also below the median forecast of 7.5%. The INE attributed the drop in price pressures mainly to lower fuel and electricity prices.
Attention will now turn to Eurozone inflation data, due out on Wednesday, to see if levels are falling in the region.
ECB President Christine Lagarde said on Monday that inflation could rise further.
« I would like to see inflation peak in October, but I’m afraid I won’t go that far, » she told Lagarde before the European Parliament’s Economic and Monetary Affairs Committee. « I think there is too much uncertainty – particularly in one element, which is the pass-through of high energy costs at the wholesale level to the retail level – to assume that inflation has actually reached its peak. pic. That would surprise me.
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