German inflation rises more than expected in December

German inflation rose more than expected to 2.9% in December, preliminary data from the Federal Statistics Office showed on Monday.

Analysts had expected a reading of 2.6% in December, after a 2.4% annual increase in consumer prices indicated in November, according to Reuters.

On a monthly basis, inflation in Germany rose 0.7% in December, after falling 0.7% in the previous month. Expectations had been for a 0.5% increase.