Germany's
Federal Statistical Office (Destatis) informed on Monday the country’s consumer
price index (CPI) is estimated to climb by 0.4 m-o-m in December 2024 after dropping by 0.2 per cent m-o-m in November.
On a y-o-y
basis, Germany’s CPI is seen to surge by 2.6 per cent in December, following a 2.2 per cent climb in the
previous month. That
would be the strongest
annual gain since January 2024 (+2.9 per cent).
Economists had forecast
CPI would advance 0.3 per cent m-o-m and 2.4 per cent y-o-y in December.
According to
the report, energy prices dropped by 1.7 per cent y-o-y this month, following a plunge of 3.7 per cent y-o-y in November.
Meanwhile, food prices increased by 2.0 per cent y-o-y, accelerating from a 1.8 per cent y-o-y rise in
the previous month. The services costs went up 4.1 per cent y-o-y, slightly hastening
from 4.0 per cent y-o-y in November.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is estimated to jump by 0.7 per cent m-o-m (the most since March 2023
(+1.1 per cent m-o-m)) and by 2.9 per cent y-o-y (the most since January 2024
(+3.1 per cent y-o-y)). Economists had predicted a 0.5 per cent m-o-m advance and a 2.6 per cent y-o-y
soar for December. In November, the German HICP fell by 0.7 per cent m-o-m and rose
by 2.4 per cent y-o-y.