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German, French annual inflation eases in November


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German, French annual inflation eases in November

Consumer prices in Germany edged up by 2.2% year over year on an EU-harmonized basis in November, following a 2.4% rise in the previous month, confirming the Federal Statistical Office's provisional estimates.

On a monthly basis, harmonized inflation came in at 0.1% in November, in line with Econoday's consensus estimate.

In nonharmonized terms, German consumer prices rose by 2.3% annually in November, compared with a 2.5% rise in the prior month. Consumer prices for food and nonalcoholic beverages rose by 1.6%, transport prices were up by 5.4% while clothing and footwear prices rose by 1.3% on an annual basis in November.

On a monthly basis, nonharmonized inflation rose by 0.1% in November.

Separately, EU-harmonized annual inflation in France came in at 2.2% in November, slowing from 2.5% in the previous month, final data from the National Institute of Statistics and Economic Studies showed.

On a monthly basis, harmonized consumer prices declined by 0.2% in November following a 0.1% rise in the previous month and in line with the Econoday's consensus estimate.

France's nonharmonized annual inflation stood at 1.9% in November after reaching 2.2% in the prior month. The rise in food prices slowed for the second consecutive month as they rose by 1.9% from 2.2%, while the rise in energy prices eased to 11.2% from 13.8%. Tobacco prices edged up by 14.5% year over year in November while that of manufactured products declined by 0.3%.

Month over month, nonharmonized consumer prices declined by 0.2% in November after recovering by 0.1% in October. Annual core inflation in November declined to 0.7% from 0.8% in October.