⚠️BREAKING: *U.S. DOLLAR INDEX RISES MORE THAN 1% TO BEGIN 2023 AS EURO SINKS ON RATE HIKE VIEWS $USD $EUR
The state of North Rhine-Westphalia - Germany's largest by population and economic output - said annual inflation slowed to 8.7% in December from 10.4% in November and a peak of 11% in October.
However, food prices - the largest part of many families' monthly outgoings - rose another 0.5%, leaving them up 13.8% on the year. More worryingly, the overall CPI without volatile food and energy prices rose 1.0%, pushing the annual 'core' measure of inflation up to 4.9% from 4.6%.
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