In November, consumer prices in Germany, harmonized with European Union standards, increased by 11.3% in annual terms, according to final data from the country’s Federal Statistical Office (Destatis). The rate of inflation slowed from 11.6% in October, when the indicator reached the maximum value in the history of observations.

In monthly terms, inflation fell to zero after rising by 1.1% in October.

The dynamics of both indicators coincided with the previously announced data and the average forecasts of analysts surveyed by Bloomberg.

Consumer prices, calculated according to German standards, in November increased by 10% in annual terms and decreased by 0.5% in monthly terms. The dynamics of both indicators were also in line with forecasts and with preliminary data.

“Despite a slight slowdown in energy prices, inflation remains at a high level,” said Destatis head Georg Thiel. – “We are increasingly seeing increases in the cost of other goods, including food.

Energy rose 38.7% year-on-year after a 43% increase in October, with electricity up 53.2% and natural gas prices more than doubling (+112.2%).

Food products rose in price by 21.1% (20.3% in October), including dairy products and eggs up by 34%, bread and cereals up by 21.1%, vegetables – by 20.1%.

Excluding food and fuel, consumer prices in Germany increased by 5% in annual terms.