German inflation up

FRANKFURT: Consumer prices in Germany, Europe’s biggest economy, rose modestly in November, driven by higher costs for food, services and rents, official data showed on Friday. Confirming a preliminary flash estimate released at the end of last month, the federal statistics office Destatis calculated that Germany’s national inflation yardstick, the consumer price index, inched 0.4 per cent higher in November, after edging up 0.3 per cent in October. And using the Harmonised Index of Consumer Prices (HICP) — the barometer used by the European Central Bank — the inflation rate stood at 0.3 per cent, also a tick higher than the 0.2 per cent recorded the month before.