German inflation unexpectedly climbed to 2.9% in December, exceeding analyst predictions and marking the third consecutive month above the European Central Bank's 2% target. This surge comes amidst political uncertainty in Germany before the upcoming federal elections.
German inflation jumped to a higher-than-expected 2.9% in December, German statistics office Destatis said Monday. Analysts polled by Reuters had been expecting the harmonized consumer price index to come in at 2.6%. The latest data comes at a time of political uncertainty in Germany and is one of the last key economic readings before federal elections are held earlier than originally scheduled on Feb. 23. German inflation jumped to a higher-than-expected 2.
9% in December, Destatis said in the first reading since the country's government was dissolved late last month.The preliminary Monday print of the country's consumer price index is harmonized across the euro area for comparability. It compares with a 2.6% forecast from analysts polled by Reuters.December marked the third consecutive month in which German inflation was back above the European Central Bank's 2% target. The indicator So-called core inflation, which strips out food and energy costs, inched higher to 3.1% in December from 3% in the previous month. Services inflation also nudged higher, coming in at 4.1% compared to the 4% of November, according to the statistics office. Since then, the country has been undertaking a series of constitutionally mandated steps to clear the path for polls, including a
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