German inflation dips slightly in November to 10%

BERLIN (AP) — Official figures show that Germany’s inflation rate slipped back slightly to 10% in November. But galloping prices remain a major headache for Europe’s biggest economy. The Federal Statistical Office said Tuesday that the annual inflation rate was off its peak of 10.4%, reached in October, as the increase in energy prices over a year ago slowed to 38.4% from 43% a month earlier. But there was no let-up in the increase of food prices, which ticked up to 21% from 20.3%. The German economy grew 0.4% in the July-September period compared with the previous quarter thanks to consumer spending. But it’s still expected to shrink in the last three months of the year and first quarter of next year.