German 2015 inflation slows due to tumbling oil price

German inflation in 2015 slowed compared with the previous year due to low oil prices.

Consumer prices in Europe's biggest economy increased by 0.3 per cent in 2015 versus the previous year, the federal statistics office said on Monday. Inflation was 0.9 per cent in 2014 and 1.5 per cent in 2013.

In December, consumer prices fell by 0.1 per cent compared with November.

The oil price fell by around a third in 2015, lowering consumer prices for home energy and fuel.

The European Central Bank has cut rates to record lows, as it attempts to reach its 2-per-cent inflation target and spur growth in the eurozone.

Last update: Mon, 04/01/2016 - 16:59
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