The inflation rate in Germanymeasured as the annual change in the consumer price index (CPI), met consensus expectations and stood at +8.7% in January 2023, above the 8.6% registered in December.
“After a slowdown at the end of last year, the inflation rate remains at a high level,” he said. Ruth Brand, President of the Federal Statistical Office. Brand added: “We are seeing price increases for many goods and, to an increasing degree, for services as well. Households paid higher prices in particular for energy and food in January as well.”
The Federal Statistical Office (Destatis) also reports that monthly inflation in January increased by 1.0%, as expected, after falling by 0.8% the previous month. This is the first increase after two months of falls, and the largest increase seen since September.
Finally, the Annual harmonized CPI moderated to 9.2% from 9.6% previously, as expected, taking the indicator to its most moderate level since August 2022.
Source: Fx Street
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