German inflation at lowest rate since 1999

German inflation stood at 1.1% on a year-on-year basis in December.

It is the lowest annual inflation rate since 1999, when the figure stood at 0.6%, according to preliminary figures released by the Federal Statistics Office.

Economists had forecast a month-on-month rise of 0.9pc and a year-on-year rise of 1.2pc.

Final figures for December will be published in mid-January.