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German inflation remains moderate in 2010
Date: 2010/12/30 Click: 1156
Germany's average inflation rate stood at 1.1 percent for the whole year, while it unexpectedly accelerated in December, the Federal Statistics Office said Wednesday.

The Office said German consumer price index (CPI) jumped 1.7 percent in December year on year, from 1.5 percent last month, pushing the overall inflation for 2010 to a modest 1.1 percent. The figure last year was only 0.4 percent, mostly because of the global economic crisis and gloomy domestic market.

Economists had forecast the rate would stay unchanged in December, according to survey of Dow Jones Newswires.

In December, consumer price climbed 1 percent on a monthly basis, much higher than that in November, which was only up to 0.1 percent.

The Wiesbaden-based office said rising price in crude oil, motor fuels, fruit and vegetables were main drivers for the rising inflation.

Germany, Europe's largest economy, has seen an outstanding recovery since spring while some of her European peers, such as Greece, Ireland and Portugal, were suffering pains of debt crisis.

Since the German economy bounced back steadily and has become the leading power of European economy, experts said the country's inflation seemed quite acceptable, as it was far below the European Central Bank's inflation target of below but close to 2.0 percent over the medium term.

Wednesday's data was preliminary, and the final ones would be announced on Jan. 14, the office said.
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