FRANKFURT – Germany’s inflation eased slightly to 11.3 percent in November from 11.6 percent in October, the country’s statistics office said. informed of Tuesday
The reading is in line with the average forecast in a Reuters poll of analysts.
The data showed that by national standards, inflation eased to 10 per cent from 10.4 per cent in the previous month.
Earlier in the day, the Spanish statistics agency, INE, reported that headline inflation dropped to 6.6 percent from 7.3 percent in October, well below the average forecast of 7.5 percent. INE attributed the reduction in pricing pressure mainly to lower fuel and electricity prices.
Attention will now turn to eurozone inflation data, due for release on Wednesday, to see whether levels are coming down across the region.
ECB President Christine Lagarde said on Monday that inflation could rise further.
“I would like to see inflation peak in October, but I am afraid I will not get there,” she told the European Parliament’s Committee on Economic and Monetary Affairs. “I think there is too much uncertainty – particularly in one component, which is the pass-through of higher energy costs at the wholesale level to the retail level – to assume that inflation has actually reached its peak. Will surprise