German Inflation Holds Steady in November
German inflation remained stuck at the low level of 1.1 percent in November, preliminary data showed Thursday, despite fresh stimulus from the European Central Bank to stoke price growth.
Consumer prices rose 1.1 percent year-on-year this month, the same rate as in October, federal statistics authority Destatis said in a statement.
The picture was somewhat brighter when looking at the ECB's preferred yardstick -- the Harmonized Index of Consumer Prices -- which recorded a November inflation rate of 1.2 percent, up from 0.9 percent in October.
Analysts had been expecting a slight pick-up in inflation after the ECB in September unleashed a fresh volley of easy money policies to tackle a weaker economic outlook in the 19-nation eurozone.
As well as cutting a key interest rate deeper into negative territory and loosening conditions for cheap credit to banks, the ECB restarted a massive monthly bond-buying programme.
The measures are aimed at encouraging spending and investment to drive up growth and bring the ECB closer to its inflation target of just under two percent.
Despite the efforts, price increases have been stubbornly low in Europe's top economy in recent months as it is buffeted by trade tensions, Brexit uncertainty and a slowdown in global growth.
Source: Agence France Presse
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