Germany’s inflation slowed less-than-expected in December and the annual average for 2017 was the highest in five years, preliminary information from the statistical office Destatis revealed Friday.
The consumer rate index rose 1.7 percent year-on-year following 1.8 percent boost in November. Economists had actually anticipated 1.5 percent inflation.
Energy inflation relieved sharply to 1.3 percent from 3.7 percent. Food rate growth slowed to 3 percent from 3.2 percent.
On a month-on-month basis, the CPI rose 0.6 percent in December, which was a little faster than the 0.5 percent boost economic experts had forecasted.
The EU step of inflation, the harmonized index of consumer rates or HICP, climbed up 1.6 percent year-on-year in December after a 1.8 percent rise in the previous month. Economists had actually anticipated 1.4 percent inflation.
Compared to the previous month, the HICP increased 0.8 percent in December, faster than the 0.6 percent economic experts had expected.
In 2017, the annual average inflation jumped to 1.8 percent from 0.5 percent in 2016. The corresponding HICP figure rose to 1.7 percent from 0.4 percent. Both figure were the highest in five years.
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