German Inflation At 29-Month Low

BERLIN (dpa-AFX) – Germany’s consumer price inflation eased to the lowest level in nearly two and a half years in November, as estimated, final data from Destatis showed on Friday. The consumer price index registered an annual increase of 3.2 percent in November, following a 3.8 percent rise in October. The last time inflation was lower in June 2021. The statistical office confirmed the flash estimate published on November 29. Energy product prices decreased 4.5 percent annually. The fall largely reflects high level of energy prices in 2022, a year marked by war and crisis. The year-on-year increase in food prices also continued to slow, but was markedly higher than overall inflation. Food prices were up 5.5 percent. Excluding food…