While inflation in Germany, the biggest Eurozone economy, remained above 2 per cent in annual terms this month, prices receded by 0.5 per cent compared to last month, early figures released Thursday show. Average household spending was reduced as pump prices for motor fuel and heating oil fell in line with lower world crude prices. Statisticians released the figures, based on data from five large and typical states, in advance of federal inflation figures for November. In the biggest state, North Rhine Westphalia, the price fall reduced the annual inflation rate from 2.3 per cent in October to 2.2 per cent in November. The European Central Bank has signalled a hike in Eurozone interest rates next month to check the higher rate of inflation. --SP 2347 Local Time 2047 GMT
