According to the German Federal Statistical Office Destatis, consumer prices in the country, harmonized with EU standards, increased by 9.6% in annual terms in December. The inflation rate slowed down from 11.3% in November and became the lowest in the last four months. On a monthly basis, deflation of 1.2% was recorded in December after zero price changes in November. Analysts note that this is the strongest drop since January 2015. The dynamics of both indicators coincided with the preliminary data and the average forecasts of experts. Consumer prices calculated according to German standards alone increased by 8.6% year-on-year in December and decreased by 0.8% month-on-month. Both indicators also coincided with forecasts and preliminary estimates. In particular, food prices rose by 20.7% compared to December 2021 (in November, the price increase was 21.1%), energy increased in price by 24.4% (in November – by 38.7%). Excluding food and fuel, consumer prices in Germany increased by 5.2% in annual terms.
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