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Germany’s annual inflation rate rose to 2.2% in November 2024, up from 2% in October, in line with preliminary estimates, and marking the highest level in four months. Services inflation remained unchanged at 4%, while energy costs declined at a slower pace (-3.7% vs -5.5% in October). Meanwhile, food inflation slowed to 1.8%, compared to 2.3% in the previous period. On a monthly basis, consumer prices fell by 0.2%, matching initial estimates, following a 0.4% rise in October. Core inflation, which excludes volatile food and energy prices, reached a six-month high of 3% in November. The EU-harmonised inflation rate remained at 2.4% annually, confirming initial estimates. Month-on-month, harmonised consumer prices declined by 0.7%, in line with initial data, reversing a 0.4% increase from the prior month.