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1st LD Writethru: German consumer prices edge up in Nov.

Xinhua, December 14, 2016 Adjust font size:

Consumer prices in Germany rose by 0.8 percent in November year on year from a year earlier, official data showed on Tuesday.

According to Federal Statistical Office Destatis, the consumer price index were also 0.1 percent higher in November than in October 2016.

"The inflation remains at the two-year-high reached in the previous month," Destatis noted.

However, German media n-tv cited economic experts as reporting that the level of consumer prices in Germany is still well below the target of the European Central Bank (ECB).

ECB considers the values of just under two percent to be ideal for economic development.

Some experts assume that inflation could pick up in the wake of rising oil prices, the report added.

Meanwhile, the wholesale prices in Germany were up by 0.8 percent year on year last month.

On a monthly basis, the wholesale index for November was 0.1 percent higher than that for October.

In addition, the selling prices in wholesale trade saw a year-on-year increase of 0.5 percent in October and a year-on-year decrease of 0.3 percent in September, according to Destatis data. Endit