Inflation in Germany rose for the second month in a row in November, rising 2.2% over the same month last year, according to provisional figures from the Federal Statistical Office.
The increase in November follows a 2% year-on-year cost of living increase registered in October.
Food and services remained the main drivers of price increases, while consumer prices fell by 0.2% from October to November in Europe’s largest economy.
Economists expect Germany’s annual inflation rate to continue to rise in the coming months, although it is likely to remain at a relatively moderate level.
None of the experts predict a wave of inflation like in 2022, when energy costs will rise following Russia’s full-scale invasion of Ukraine, pushing Germany’s inflation rate to around 9%.
The last two months marked a reversal, after annual inflation reached its lowest level since February 2021 in September, at 1.6%.
Excluding volatile energy and food prices, the statistics office calculated an inflation rate of 3% in November. This core inflation rate is generally considered to better reflect inflation trends.
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