Germany's Federal Statistical Office (Destatis) reported on Monday the country’s consumer price index (CPI) is expected to drop 0.8 percent m-o-m in November after gaining 0.1 percent m-o-m in the previous month.

On the y-o-y basis, Germany’s CPI is seen to fall 0.3 this month, following a 0.2 percent decrease in October. This was the biggest decline since January 2015.

Economists had predicted inflation would drop 0.7 percent m-o-m and 0.1 percent y-o-y in November.

According to the report, food price rose 1.4 percent y-o-y in November, the same pace as in October. Services costs growth accelerated to 1.1 percent y-o-y in November from 1.0 percent y-o-y in the previous month. Energy prices fell 7.7 percent y-o-y after a 6.8 percent y-o-y decline in October.

Meanwhile, the harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is expected to fall 1.0 percent m-o-m and 0.7 percent y-o-y.