BERLIN (Reuters) – German annual inflation rose slightly in November but remained well below the European Central Bank’s target level for the seventh month in a row, data showed on Thursday.
German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.2% year-on-year after posting a 0.9% increase in the previous month, the Federal Statistics Office said.
The reading was the highest rate since June and matched a Reuters forecast.
It marked the seventh month in a row that the inflation figure remained well below the ECB’s target level of close to but below 2%.
On the month, EU-harmonised prices fell by 0.8% in November. Analysts had expected a reading of -0.7%.
(Reporting by Joseph Nasr; Editing by Madeline Chamberss)