202303.03
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Inflation in Germany Reduced to 9.2%

Inflation in Germany

Consumer prices or inflation in Germany rose by 9.2% in January. Inflation slowed down to 9.6% in December. The country’s Federal Statistical Management gives this data.

The data aligned with the preliminary estimate and consensus of analysts polled by Bloomberg and Trade Economics.

Why Inflation in Germany is Volatile:

Consumer prices rose by 0.5% month-on-month, also in line with preliminary data and experts’ expectations. In December, the rate of decrease was 1.2%.

In January, calculated according to German standards, prices increased by 8.7%, and by 1% compared to the previous month. In December, the first indicator increased by 8.6%, and the second – decreased by 0.8%.

In January, the cost of food or core inflation in Germany was 20.2% higher than a year earlier, clothes and shoes – by 2.8%. Municipal services increased by 8.9%, the cost of electricity – by 25.7%.

Medical services increased in price by 2.9%, educational services – by 3.6%, transport – by 7.5%.

Consumer prices, excluding food and energy products, increased by 7.2%.