German Inflation Back to 4.0% in November (seasonally adjusted & annualized)
In order to better understand short-term inflation trends, we annualize the monthly change of the seasonally adjusted Consumer Price Index. This gives an inflation measure of just 4.0%, much lower than official inflation of 10.0% p.a., which is encouraging. The flip side is that the seasonally adjusted figures are very, very volatile as you can see in the second chart below.
![](https://i0.wp.com/www.barkowconsulting.com/wp-content/uploads/2022/11/CPI_SA_202211.png?resize=1024%2C576&ssl=1)