German annual inflation accelerates in December

BERLIN Mon Jan 6, 2014 8:15am EST

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BERLIN Jan 6 (Reuters) - German annual inflation accelerated in line with expectations by 0.1 percentage points to 1.4 percent in December but remained below the European Central Bank's euro zone target of close to but just below 2 percent, preliminary data showed.

Consumer prices rose just 1.5 percent for the full-year 2013 after a gain of 2.0 percent in 2012 and 2.1 percent in 2011, the Statistics Office said on Monday.

The Office said cheaper oil in the light of the weaker world economy had driven the deceleration in 2013 inflation.

Economists and the government expect inflation in Germany to rise this year. Berlin said in October it saw consumer prices rising 1.8 percent in 2014.

Consumer prices harmonised to compare with other European Union countries rose 0.5 percent on the month in December and showed a year-on-year gain of 1.2 percent.

Harmonised consumer prices rose 1.6 percent on the year in 2013, after increasing 2.1 percent in 2012.

Final German inflation data for December are due to be released on Jan. 16, the office said.

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