德国11月CPI同比2.3%低于预期，调和CPI同比初值意外升至2.6%，创九个月新高

Group 1 - The core inflation rate in Germany unexpectedly rose to 2.6% in November, reaching a nine-month high, driven primarily by holiday package costs and rising fuel prices [1] - The harmonized consumer price index (CPI) increased from 2.3% in the previous month, surpassing analysts' expectations of 2.4% [1] - The national CPI for Germany in November remained stable at 2.3%, slightly below the market expectation of 2.4% [3] Group 2 - The rebound in inflation is mainly attributed to holiday package costs and rising fuel prices, while food prices have a mild dampening effect [4] - Bloomberg economist Martin Ademmer forecasts that despite short-term fluctuations, the broader trend indicates a gradual easing of inflation, with expectations of a return to 2.3% in 2025 and below 2% in 2026 [4] - The European Central Bank (ECB) policymakers are adopting a cautious stance, with Chief Economist Philip Lane suggesting that slowing wage growth will help inflation sustainably return to target levels, indicating that current borrowing costs will likely remain unchanged [4]