Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

German inflation to jump beyond 5% in November, states data suggest

Published 11/29/2021, 05:48 AM
Updated 11/29/2021, 05:52 AM
© Reuters. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

BERLIN (Reuters) - German inflation is set to surpass the 5% threshold in November for the first time in nearly three decades, regional data from several states suggested on Monday, increasing pressure on the European Central Bank to react to rising prices.

Preliminary data from North-Rhine Westphalia, Bavaria, Hesse, Brandenburg and Saxony showed that consumer price inflation (CPI) rose in a range between 5.0-5.7% on the month in November.

The pan-German inflation data for Europe's largest economy is due later on Monday (1300 GMT).

A Reuters poll of analysts points to an overall CPI increase of 5% for Germany in November, which would be the highest rate since September 1992.

The EU-harmonized inflation figure (HICP) is projected to hit 5.5%. This would be the highest reading recorded since the EU-harmonised series began in 1997.

ECB board member Isabel Schnabel told ZDF television on Monday that the central bank believes inflation peaked in November, meaning it would be premature to raise rates as price increases look likely to slow gradually next year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.