03.01.202012:46:00UTC+00German Inflation At 5-month High

Germany's consumer price inflation was the highest in five months in December, preliminary data from the Federal Statistical Office showed on Friday.

The consumer price index, or CPI, climbed 1.5 percent year-on-year following increases of 1.1 percent each of the previous two months. Economists had forecast an inflation rate of 1.4 percent.

The latest inflation rate was the highest since July, when it was 1.7 percent.

Food inflation accelerated to 2.1 percent from 1.8 percent, while the fall in energy prices eased to 0.1 percent from 3.7 percent.

On a month-on-month basis, the CPI grew 0.5 percent after a 0.8 percent slump in November. Economists were looking for a 0.4 percent increase.

The harmonized index of consumer prices, or HICP, which is meant for EU comparison, climbed to 1.5 percent annually from 1.2 percent in November. Economists were looking for 1.4 percent inflation.

Compared to the previous month, the HICP rose 0.6 percent in December after a 0.8 percent slump in the previous month. Economists had predicted a 0.4 percent increase.

On an annual average, the inflation based on both the CPI and the HICP was 1.4 percent in 2019.

The statistical office is set to publish the final results for December on January 16.