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In Munich, Bavaria, Upper Bavaria, Germany, on December 28, 2024, shoppers walk along the shopping streets during the festive season, taking advantage of stores’ post-Christmas sales.
Michael Nguyen | Nurphoto | Getty Images
German inflation jumped to a higher-than-expected 2.9% in December, German statistics office Destatis said in the first reading since the country’s government was dissolved at the end of the month past
Monday’s preliminary print of the country’s consumer price index is harmonized across the euro zone for comparability. That compares with a forecast of 2.6% by analysts polled by Reuters.
December marked the third consecutive month in which German inflation was again above the European Central Bank’s 2% target. The indicator it fell to 1.8% in Septemberthen jumped back to 2.4% in October and it was not changed at that level in November.
The latest data comes at a time of political uncertainty in Germany and is one of the last key economic readings before the federal elections are held earlier than originally scheduled on February 23.
Now the former governing coalition of Germany spread in Novemberwhen Chancellor Olaf Scholz sacked former Finance Minister Christian Lindner and announced that he would call an early election.
Since then, the country has taken a series of constitutionally mandated steps to clear the way for the polls, including a vote that expressed the loss of confidence in Scholz and the official dissolution of the lower house of the German parliament by President Frank-Walter Steinmeier.
This is a breaking news story, please check back for updates.
