Investing.com - Consumer price inflation in Germany rose more-than-expected in December, official preliminary data showed on Wednesday.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.1% in December, above expectations for a 1.9%. Consumer prices rose by 1.9% in November.
Month-over-month, German consumer prices rose 0.9% last month, compared to forecasts for a 0.7% increase, after easing by 0.1% in the preceding month.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.58% to trade at 1.3270.
Meanwhile, European stock markets were up sharply. Germany's DAX rallied 2.15%, the EURO STOXX 50 surged 3.6%, France’s CAC 40 rose 2.3%, while London’s FTSE 100 climbed 2.3%.
In a report, the German Federal Statistics Bureau said consumer price inflation accelerated at an annualized rate of 2.1% in December, above expectations for a 1.9%. Consumer prices rose by 1.9% in November.
Month-over-month, German consumer prices rose 0.9% last month, compared to forecasts for a 0.7% increase, after easing by 0.1% in the preceding month.
Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.58% to trade at 1.3270.
Meanwhile, European stock markets were up sharply. Germany's DAX rallied 2.15%, the EURO STOXX 50 surged 3.6%, France’s CAC 40 rose 2.3%, while London’s FTSE 100 climbed 2.3%.