German inflation fell to 1.4% in November on an annual basis, the fourth month in a row that prices have fallen, final figures released today by the national statistics service show.
Consumer prices in the biggest European economy shed 0.5% from October, the Destatis service said. It confirmed a preliminary estimate released on November 26.
The downward trend was driven by lower prices for mineral oil products, 'especially for motor fuels - which are caused in particular by declining world market prices of crude oil,' Destatis said.
When the cost of mineral oil products was stripped out, annual inflation came to 2%. German food prices rose in November by an average 2.1%, the Destatis data showed.
In the 15-nation euro zone, inflation has dropped sharply from a record 4% in July to 2.1% in November, setting the stage for deep interest rate cuts by the European Central Bank.
