Energy costs push German inflation rate up to 2.3%
- 12 January 2012
- From the section Business
Rising energy prices pushed German inflation up to 2.3% in 2011, according to official figures from Destatis.
The inflation rate compares with 1.1% in 2010 and 0.4% in 2009. It was the highest annual figure since 2008, when inflation was 2.6%.
It takes Germany outside the European Central Bank's target rate for eurozone inflation, which is close to, but below, 2.0%.
Excluding energy prices, inflation would only have been 1.3%.
Energy prices, including motor fuels, rose 10% in the year. Motor fuel and heating oil prices alone rose 13.9% in the year.
The figures come on the day of the European Central Bank's latest monthly interest rate decision.
Rates are expected to be left unchanged at 1.0%, following two consecutive months of cuts.