Inflation in Germany Reduced to 9.2%

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Consumer prices in Germany rose by 9.2% in January. Inflation slowed down to 9.6% in December. This data is given by the country’s Federal Statistical Management.

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

Consumer prices rose by 0.5% month-on-month, which was 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%, the second – decreased by 0.8%.

In January, the cost of food 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%.