German Inflation Rebounded in December on Energy Base Effects
January 04 2024 - 7:45AM
Dow Jones News
By Ed Frankl
German inflation rose in December, as base effects from
government energy relief measures at the end of 2022 halted the
recent trend of easing consumer prices.
Consumer prices were 3.7% higher in December 2023 than the same
month a year earlier, compared with 3.2% in November, measured by
national standards, preliminary data from the German statistics
office Destatis showed Thursday.
The December reading matched expectations of a consensus of
economists polled by The Wall Street Journal.
Energy prices rose 4.1% on year, flipping the 4.5% fall in
November, largely a result of the base effects from government
programs that cushioned gas and heating bills a year prior.
Food prices eased, however, rising 4.5% on year, from 5.5% in
November, Destatis said.
Core inflation, which excludes volatile food and energy prices,
ticked down to 3.5% in December from 3.8% in November, according to
Destatis.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
January 04, 2024 08:30 ET (13:30 GMT)
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