Consumer prices in Germany were up 0.8pc in December from November and were up 1.1pc year-on-year, according to preliminary figures released by the Federal Statistics Office. It added that consumer prices rose 1.1pc on average in 2003 - the lowest annual inflation rate since 1999. The figures are based on data from six federal states.
Economists had forecast a month-on-month rise of 0.9pc and a year-on-year rise of 1.2pc. The statistics office said the harmonised index of consumer prices (HICP) for Germany in December was up 0.8pc month-on-month and 1.0pc year-on-year. The HICP for Germany rose by 1.1pc on average in 2003, it said. Final figures for December will be published in mid-January. //www.fxcentre.com