Forexpros – Consumer price inflation in Germany held steady in November, unchanged from the previous month, official preliminary data showed on Monday.
In a report, the German Federal Statistics Bureau said consumer price inflation was flat in November, unchanged from October’s reading of 0.0%.
Analysts had expected German consumer prices to rise by 0.1% in November.
Year-on-year, German consumer price inflation accelerated at an annualized rate of 2.4%, broadly in line with expectations, after rising at a rate of 2.5% in the preceding month.
Following the release of the data, the euro held on to strong gains against the U.S. dollar, with EUR/USD climbing 0.85% to trade at 1.3351.
Meanwhile, European stock markets were sharply higher. The EURO STOXX 50 rallied 4%, France’s CAC 40 soared 4.05%, the FTSE 100 jumped 2.15%, while Germany’s DAX added 3.55%.
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