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European Economic News

German Inflation Accelerates As Estimated In January

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

Germany's consumer price inflation accelerated further in January to its highest level in four years, confirming the flash data published earlier, final figures from Destatis showed Tuesday.

The consumer price index rose 1.9 percent year-over-year in January, following a 1.7 percent climb in December. That was in line with the preliminary data published on January 30.

The latest inflation figure equaled the one from July 2013. A higher rate was seen in December 2012, when inflation was 2 percent.

Energy prices alone grew 5.9 percent annually in January and food price inflation was also higher at 3.2 percent.

On a monthly basis, consumer prices dropped 0.6 percent from December, when it increased by 0.7 percent. It was the first decline in nine months. The figure also matched preliminary report.

The EU measure of inflation, or HICP, climbed 1.9 percent yearly in January, faster than the 1.7 percent rise in the prior month.

Month-on-month, the HICP slid 0.8 percent at the start of the year, reversing a 1.0 percent increase in December. This confirmed the flash HICP figures published earlier.

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