Energy costs push German inflation rate

Petrol pump in Dresden Energy prices, including motor fuels, rose 10% in the year Rising energy prices pushed German inflation up to 2.3% in 2011, according to official figures from Destatis. The inflation rate compares with 1.1% in 2010 and 0.4% in 2009. It was the highest annual figure since 2008, when inflation was 2.6%. It takes Germany outside the European Central Bank's target rate for eurozone inflation, which is close to, but below, 2.0%. Excluding energy prices, inflation would only have been 1.3%. Energy prices, including motor fuels, rose 10% in the year. Motor fuel and heating oil prices alone rose 13.9% in the year. The figures come on the day of the European Central Bank's latest monthly interest rate decision. Rates are expected to be left unchanged at 1.0%, following two consecutive months of cuts.