Germany: Consumer prices record steepest drop in over five years
January 29, 2015
Consumer prices dropped 1.0% over the previous month in January, according to data released by the Federal Statistics Office (Destatis) on 29 January. The result came in significantly below December’s flat reading.
In annual terms, consumer prices dropped 0.3% in January, which represented the steepest decline since July 2009 and contrasted December’s 0.2% price increase. Annual average inflation inched down from December 0.9% to 0.8% in January.
Meanwhile, harmonized consumer prices decreased 0.5% in annual terms, contrasting December’s mild 0.1% increase. Annual average HICP inflation also declined in January, edging down from December’s 0.8% to 0.6%.