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German inflation falls to five-year low

FXStreet (London) - German inflation measured by HICP fell to 0.5 percent in November, falling from 0.7 percent in October to a new five-year low.

CPI-measured inflation was flat on the month at 0.6 percent year-on-year, defying consensus forecasts of a slight gain in November.

The news will increase pressure on the European Central Bank ahead of its monetary policy decision on 4 November, and follows earlier data showing that Spanish inflation fell to 0.5 percent in November.

With oil prices continuing to fall, it will add downside pressure to already-weak European inflation numbers.

Germany Harmonised Index of Consumer Prices (YoY) came in at 0.5%, below expectations (0.6%) in November

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German inflation drops in November – ING

Carsten Brzeski of ING, notes that based on the results of six regional states, German headline inflation dropped to 0.6% YoY in November, from 0.8% in October, and that this could be the prelude of another downward revision of the ECB’s inflation forecast.
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