By Ed Frankl
German inflation rose in December, as base effects from government energy relief measures at the end of 2022 halted the recent trend of easing consumer prices.
Consumer prices were 3.7% higher in December 2023 than the same month a year earlier, compared with 3.2% in November, measured by national standards, preliminary data from the German statistics office Destatis showed Thursday.
The December reading matched expectations of a consensus of economists polled by The Wall Street Journal.
Energy prices rose 4.1% on year, flipping the 4.5% fall in November, largely a result of the base effects from government programs that cushioned gas and heating bills a year prior.
Food prices eased, however, rising 4.5% on year, from 5.5% in November, Destatis said.
Core inflation, which excludes volatile food and energy prices, ticked down to 3.5% in December from 3.8% in November, according to Destatis.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
01-04-24 0830ET
