Consumer prices were unrevised in the final report for December. A 0.7 percent monthly rise in the CPI matched its preliminary estimate to yield a 1.7 percent annual inflation rate, up a full 0.9 percentage points from the final November reading.
The final HICP was similarly in line with its flash print, increasing 1.0 percent from mid-quarter for a 1.7 percent 12-month change, a full 1 percentage point above its mark last time.
As indicated earlier, energy provided a major boost to the headline annual inflation rate and prices here were up 2.5 percent on the year having fallen 2.7 percent in November. Food (2.5 percent after 1.2 percent) also had a significant positive impact. Excluding energy, prices were 0.6 percent firmer on the month and 1.6 percent stronger than a year ago, up from 1.2 percent. Elsewhere, clothing and shoes (2.1 percent after 1.6 percent) and leisure and entertainment (1.8 percent after 1.0 percent) were supportive too.
The final December data confirm a marked acceleration in German inflation at year-end. Crucially too from the perspective of the ECB, they also point to some firming in underlying prices. This should be similarly apparent, to a lesser extent, in the final December HICP data for the entire Eurozone, due later this morning.