Germany: Annual HICP declines to -0.7% in November

Inflation in Germany, as measured by the Consumer Price Index (CPI), was -0.8% November, Destatis reported in its flash estimate on Monday. This reading followed the 0.1% increase seen in October and missed the market expectation of -0.7%.

Further details of the publication revealed that theHarmonized Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred gauge of inflation, slumped to -0.7% on a yearly basis and came in lower than analysts’ estimate of -0.5%.