German Consumer Prices Lower in November as Fuel Prices Drop

German consumer prices dipped in November as lower fuel prices caused an easing on costs in Europe's biggest economy.

According to a report released Wednesday by Destatis, Germany's federal statistics agency, preliminary figures found the consumer price index fell 0.1% last month from the previous month and was up 1.5% compared to November 2005.

Economists had expected prices to decline 0.2%. Excluding fuel and energy prices during November, the consumer price index would have risen 1.7% on the year.

Consumer prices calculated according to harmonized European Union standards were also confirmed for November, Destatis said, with final figures matching preliminary, including 1.5% on the year and down 0.1% from October.

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