Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

German inflation slows sharply to 1.7 percent in December

German inflation slows sharply to 1.7 percent in December
FILE PHOTO: The 'Europacity' construction site is pictured in Berlin, Germany, July 27, 2018. REUTERS/Fabrizio Bensch -
Copyright
FABRIZIO BENSCH(Reuters)
Euronews logo
Text size Aa Aa

BERLIN (Reuters) - German annual inflation slowed sharply in December, slipping below the European Central Bank's target level just as it ended a crisis-fighting bond purchase scheme after four years and as global markets slumped.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.7 percent year-on-year after an increase of 2.2 percent in the previous month, the Federal Statistics Office said on Friday.

The ECB targets inflation of close to but below 2 percent for the euro zone as a whole. December's weaker German annual inflation rate was marked by a pronounced slowdown in energy price rises.

On the month, EU-harmonised prices rose by 0.3 percent, the preliminary numbers showed, compared with the forecast for a 0.4 percent increase.

(Writing by Paul Carrel; Editing by Maria Sheahan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.