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German inflation seen up to 1.7 pct in December

German inflation seen up to 1.7 pct in December

An official estimate shows that Germany's annual inflation rate picked up to 1.7 percent in December, with higher oil and fuel prices helping push the rate higher.
The Federal Statistical Office said Wednesday that annual consumer price inflation was up from 1.5 percent in November. Prices were up 1 percent on the month.
Data from Germany, Europe's biggest economy, are important for interest rate decisions by the European Central Bank. The bank has kept its main interest rate at 1 percent since May 2009 and shows no signs of raising it any time soon.


Updated : 2021-02-26 13:09 GMT+08:00