German Inflation Picks Up in November, Beating Forecasts
Inflation in Europe's largest economy picked up in November, topping forecasts and led by rising prices for energy and food.
Germany's annual inflation rate--measured by harmonized European Union standards--rose to 1.8% from 1.5% in October, the Federal Statistical Office said Wednesday.
Economists polled by The Wall Street Journal had forecast an increase to 1.7%.
The rise brings Germany's annual inflation rate in line with the European Central Bank's target. The ECB aims to keep inflation in the eurozone at just below 2%.
The statistics office said that energy prices in Germany rose 3.7% from November 2016, while food prices increased 3.2%.
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(END) Dow Jones Newswires
November 29, 2017 08:21 ET (13:21 GMT)