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2/13, 8:01 AM (Source: TeleTrader)
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German inflation up to 1.7% in January

Consumer prices in Germany rose 1.7% in January compared to the same month last year, the Federal Statistical Office (Destatis) on Thursday, thus confirming its provisional estimate. The figure marks an increase from December's annual inflation rate of 1.5%.

Goods prices contributed significantly to the increase as they jumped 2% year on year, with energy prices surging 3.4% and food prices rising 2.3% compared to January 2019. Meanwhile, services prices added 1.5% on an annual basis.

On a monthly basis, consumer prices in Europe's largest economy were 0.6% lower compared to December. The harmonized index of consumer prices for Germany increased by 1.6% from January last year, but lost 0.8% month on month.

Breaking the News / NP