Germany's annual inflation falls to 8.6% in December

Ankara

Germany's annual consumer inflation eased to 8.6% in December 2022, according to preliminary data from the federal statistics office on Tuesday.

The inflation rate was significantly lower than in the previous months (10.0% in November and 10.4% in October).

Price growth of both food and energy slowed down in December from a month earlier.

Energy prices, meanwhile, surged 24.4% year-on-year in December, down from 38.7% in November. Food inflation decreased to 20.7% last month from 21.1% the previous month.

On a monthly basis, Germany's Consumer Prices Index is expected to decline by 0.8% from a month ago in December 2022.

The annual average inflation rate is projected to stand at 7.9% in 2022, Destatis said.