German inflation slowed in November
2022.12.20 02:36
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German inflation slowed in November
Budrigannews.com – According to data released on Tuesday, Germany’s producer price index decreased in November for the second month in a row, adding to indications that Europe’s largest economy may be experiencing less high inflation as the cost of energy products decreased.
The Federal Statistical Office reported that industrial product producer prices increased by 28.2 percent in October compared to the same month last year, while they increased by 34.5% year-over-year. A reading of 30.6% was anticipated in November by analysts.
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Prices decreased by 3.9% in comparison to October 2022, which was lower than the consensus estimate of 2.5%.
Prices for energy fell by 9.6% from the previous month, primarily due to lower costs for and electricity.
