Data released by Destatis reveals a slight improvement in Germany’s inflation for the month of November. German consumer price index picked up to +1.1% YoY in November from +0.9% in October, the highest level seen since June.

The inflation reading also came in line with economists’ expectations. However, it remains below the target set by ECB of around 2%. This is the seventh consecutive month when German inflation has remained weak and below the ECB’s target.

On a month-on-month basis, German CPI weakened to -0.8% during November, coming in slightly below economists’ expectations which were for a reading of -0.7%. Germany’s harmonised index of consumer prices (HICP), calculated for European purposes, touched +1.2% YoY and =0.8% MoM during November.