Germany: Inflation edges down in January
Consumer prices decreased 0.7% in January over the previous month, according to data released by the Federal Statistics Office (Destatis) on 14 February. The result matched market expectations and contrasted December’s 0.6% increase. January’s fall came on the back of a 6.1% month-on-month drop in prices of clothing and footwear and a 5.8% decrease in prices of recreation and culture.
Inflation edged down from 1.7% in December to 1.6% in January. The result also matched market expectations. Annual average inflation, however, was stable in January at December’s print of 1.7%.
Meanwhile, harmonized inflation (HICP) moderated from 1.6% in December to 1.4% in January, while average HICP in January remained steady at December’s 1.7%.