Destatis released its consumer price data for Germany on Monday. German preliminary consumer price index increased 0.1% in November, in line with expectations, after a flat reading in October.

On a yearly basis, German preliminary consumer price index increased to 0.4% in November from 0.3% in October, in line with expectations.

The annual increase was mainly driven by a rise in services prices, which were up 1.2% year-on-year in November.

Goods prices dropped 0.6% year-on-year in November, driven by a decline in energy prices. Energy prices slid 7.5% year-on-year in November.