Germany November HICP Inflation Rises More Than Expected

(RTTNews) - Germany's EU harmonized inflation accelerated notably in November, and exceeded economists' expectations, latest data showed Thursday.

The harmonized index of consumer prices (HICP), measured under the EU methodology, increased 1.6 percent year-on-year in November, after rising 1.2 percent in October. Economists had forecast a more modest increase of 1.3 percent.

Sequentially, the HICP moved up 0.2 percent in November, reversing the previous month's 0.3 percent decrease. Expectations were for a 0.1 percent fall in November.

At the same time, inflation as per the consumer price index (CPI) rose to 1.3 percent in November from 1.2 percent in October. Economists had forecast inflation to stay unchanged at the October level.

The CPI rose 0.2 percent compared to October, when it decreased by 0.2 percent. The rate of decline was slightly higher than 0.1 percent economists had forecast.