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Germany Inflation Confirmed At 11-month Low

Germany's consumer price inflation slowed in January to its lowest level in nearly a year, latest data from Destatis confirmed on Thursday.

The consumer price index advanced 1.4 percent year-on-year in January, slower than the revised 1.6 percent increase in December.

On a month-on-month basis, the consumer prices fell 0.8 percent. Prices edged up 0.1 percent in November.

The flash estimates for both annual and monthly changes were thus confirmed.

The main reason for the inflation rate being lower than in the previous month was the development of energy product prices, the statistical office said.

Energy price inflation slowed to 2.3 percent from 4.9 percent in December.

Excluding energy prices, the inflation rate rose 1.3 percent in January.

Food prices rose 0.8 percent year-on-year. Clothing and footwear prices grew 1.4 percent.

The harmonized index of consumer prices, or HICP for Germany, calculated for European purposes, rose 1.7 percent year-on-year, same as in December.

Compared to the previous month, the HICP declined 1.0 percent in January.

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