Inflation in Germany fell to 2.9 percent in January
Annual inflation in Germany was determined to be 2.9 percent in January. According to preliminary data released by Destatis, annual inflation, which was 3.7 percent in December 2023, fell to 2.9 percent in January.
Germany's annual inflation rate was determined to be 2.9 percent in January.
According to preliminary data released by the Federal Statistical Office of Germany (Destatis), annual inflation, which stood at 3.7 percent in December 2023, fell to 2.9 percent in January. On a monthly basis, inflation was recorded at 0.2 percent in January. Market expectations were for inflation in Germany to be 0.2 percent monthly and 3 percent annually in January.
However, the released data showed a lower rate on an annual basis, despite being in line with expectations on a monthly basis. Thus, inflation in Germany in January reached its lowest level measured since June 2021. In the same period, the EU-harmonized CPI also fell by 0.2 percent compared to the previous month in January, while it showed an increase of 3.1 percent on an annual basis.
News Source: AA
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