German state inflation rises in Nov. ’24

Inflation increased in several German states in November, indicating a potential national rise, according to preliminary data released on Thursday.

Bavaria’s annual inflation rate climbed to 2.6 per cent from 2.4 per cent in October.

Brandenburg saw an increase to 1.9 per cent from 1.8 per cent, Saxony to 2.9 per cent from 2.8 per cent, Hesse to 2.0 per cent from 1.8 per cent, and Baden-Wuerttemberg to 2.2 per cent from 2.1 per cent.

North Rhine-Westphalia, however, experienced a slight decrease to 1.9 per cent from 2.0 per cent.

Economists expect Germany’s harmonised inflation rate to rise to 2.6 per cent in November from 2.4 per cent in October.

The European Central Bank (ECB) is expected to cut interest rates further at its upcoming meetings, though the scale and speed remain unclear.

Harmonised inflation in the eurozone is projected to rise to 2.3 per cent in November from 2.0 per cent in October.

Attribution: Reuters

Subediting: Y.Yasser