CAPTION: German inflation confirmed at 10% in November.(picture alliance/dpa)
Inflation in Germany decelerated in November from its 70-year high the previous month, but remains in the double digits at 10%, the Federal Statistical Office (Destatis) said, confirming a first estimate issued two weeks ago.
The annual rate of inflation had risen for three months in a row, reaching 10.4% in October, driven by soaring energy and food costs.
"Despite a slight easing in energy prices, the inflation rate remains at a high level of 10%," said Georg Thiel, president of Wiesbaden-based Destatis. "We are also increasingly observing price increases for many other goods besides energy."
Economists do not yet see the slowdown in November as a reason to sound the all-clear. Most do not expect inflation to fall more significantly until the spring of next year.
Energy cost 38.7% more in November than a year earlier. The price increase therefore slowed somewhat after a 43% rise in October.
Consumers had to pay 21.1% more for food than in November 2021.
Compared with the previous month, consumer prices fell by 0.5% overall in November.
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