German CPI climbs to 1.5% in November

| December 9, 2010
German CPI climbs to 1.5% in November

Germanya��s statistics office, Destatis, has today revealed annual German consumer price inflation (CPI) increased to the highest rate in two years in November, rising to 1.5%, from 1.3% in October.

This represented the highest rate since October 2008.

Meanwhile, on a monthly basis, prices rose 0.1%.

German inflation is still well below the target of 2% and is used for setting monetary policy. In comparison, the inflation rate for the euro zone as a whole, currently stands at 1.9%.

In related news this week, the Economy Ministry revealed German industrial production rose by 2.9% in October a�� almost treble the 1% economists had expected.

Economists described it as a�?a good start to the fourth quartera�?.

The figures indicate that Germany continues to drive the recovery of the euro zone after experiencing record economic growth.

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