German inflation hits 13-year high

Inflation hit a 13-year high of 3.1 percent in November in Germany, well above the European Central Bank's target rate of 2.0 percent, official data showed Friday.
Consumer prices rose by more than an initially estimated 3.0 percent to reach their highest level since January 1994, final figures from the national statistics office Destatis showed.
Prices rose 0.5 percent in November compared to October, Destatis said.
Oil and food prices lead the increases, with food posting a 5.8 percent hike on a 12-month basis.
High-profile rises within that category included butter, which shot up by 46 percent and dairy products, up by 17 percent.