Germany's inflation rate climbed to 2.6% in December, driven by higher food and service costs.

Germany's inflation rate rose to 2.6% in December 2024, higher than the expected 2.4%, marking the third consecutive monthly increase. The annual average for 2024 is projected at 2.2%. The increase is attributed to higher food prices, service costs, and supply chain issues. Despite the rise, the European Central Bank is expected to continue planning for interest rate cuts to support the economy.