(MENAFN- Qatar News Agency) Annual inflation in Germany rose to 1.4% in December amid a pickup in the nation's economy and rising wages, data released Monday showed.
The December rate compared with 1.3% in November, the federal statistics office said.
The gain was in line with analysts' forecasts. Still, consumer prices in Europe's biggest economy remain well within the European Central Bank's target of an annual inflation rate of just below 2
"The solid economic performance as well as strongly rising wages point to the upward trend of prices slowly continuing in the coming quarters," said Commerzbank economist Johannes Werne
The statistics office is to publish a breakdown of the monthly inflation data on January 1
Year on year, the annual cost of living in Germany rose by 1.5% in 2013, its lowest increase since 2010, the statistics office said. Consumer prices stood at 2% in 2012
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.