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Germany Consumer Prices Fall As Estimated

Germany's consumer prices declined in December, as initially estimated, final data from Destatis showed on Tuesday.

The consumer price index decreased 0.3 percent year-on-year in December, same as seen in November, as estimated.

Energy price inflation eased to 6.0 percent in December. Excluding energy prices, inflation was 0.4 percent.

Prices for clothing and footwear declined 5.4 percent yearly in December and communication cost fell 3.4 percent.

Transportation cost declined 2.7 percent. Prices for furniture, household equipment, and health fell by 0.9 percent and 0.5 percent, respectively.

Meanwhile, prices for restaurants and hotels, alcoholic beverages and tobacco, miscellaneous goods and services, recreation and culture, education, food and non-alcoholic beverages, and housing grew in December.

On a monthly basis, consumer prices rose 0.5 percent in December, as initially estimated.

The EU measure of harmonized index of consumer prices, or HICP decreased 0.7 percent year-on-year in December, same as in November. This was in line with the flash estimate.

On a monthly basis, the HICP rose 0.6 percent in December, as initially estimated.

On an annual average, the CPI Inflation was 0.5 percent in 2020 as estimated.

The HICP inflation was 0.4 percent in 2020, in line with the flash estimate.

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