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German inflation climbs to highest level in more than two years
Date: 2010/11/30 Click: 929
German consumer price inflation has climbed to the highest level in more than two years, pushed by rising prices of fuel, fruit and vegetables, preliminary data released by the Federal Statistics Office (Destatis) showed on Friday, offering an early signal that price pressures in the eurozone may be firmer than expected.

The consumer price index for Germany is expected to rise by 1.5 percent on a year-to-year basis in November, according to results available so far. Compared with the previous month, the consumer price index is estimated to be 0.1 percent up.

Using a harmonized European method, the inflation rate increased to 1.6 percent from 1.3 percent in October. In the month, prices rose 0.1 percent.

The inflation growth was mainly driven by rising prices of heating oil, motor fuels and fruit and vegetables, the Federal Statistics Office said in a statement.

Both CPI and HICP inflation rates are still below those of the eurozone. According to most recent data, eurozone inflation rose to 1.9 percent in October from 1.8 percent in September.

Some analysts said inflationary effects such as energy and agriculture commodity prices should fade in coming months. But some others warned that the combination of a thriving economy and continuously very low interest rate risks an unwanted acceleration in German inflation.

Germany has been calling for monetary policy tightening since the economy recovered from the recession. Bundesbank President Axel Weber is of the view that maintaining the accommodative policy stance for too long may risk a de-anchoring of inflation expectations.
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