November 29, 2018 / 1:12 PM / 13 days ago

German inflation remains above ECB target in November

BERLIN, Nov 29 (Reuters) - German annual inflation accelerated at a slower pace in November but stayed well above the European Central Bank’s target, supporting the central bank’s case for gradually rolling back its massive stimulus in the euro zone.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.2 percent year-on-year after an increase of 2.4 percent in the previous month, the Federal Statistics Office said on Thursday.

The ECB targets inflation of close to but below 2 percent for the single-currency bloc as a whole.

On the month, EU-harmonised prices rose by 0.1 percent, the preliminary numbers showed, compared with the forecast for a 0.2 percent increase.

Reporting by Joseph Nasr Editing by Michelle Martin

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