German inflation drops to 9.2 percent in Janurary

German inflation drops to 9.2 percent in Janurary
Опубликовано: Thursday, 09 February 2023 06:53

Compared to December, prices increase by 0.5 percent.

FRANKFURT — Inflation in Germany eased to 9.2 percent in January from 9.6 percent in December, much-awaited preliminary data released by the German statistics office showed Thursday.

Compared to December, prices increased by 0.5 percent, the data showed.

Analysts polled by Reuters had generally expected inflation to rise by 10.0 percent compared to January 2022 and by 1.2 percent compared to December.

Technical issues at Germany’s statistics office delayed the release of the data and meant that the European statistics agency, Eurostat, had to report January inflation numbers using an estimate for Germany only. That eurozone estimate put inflation at 8.5 percent in January, down from 9.2 percent in December.

As part of a regular process, Germany’s consumer price index has been revised. With effect from January 2023, the consumer price index is rebased from 2015 to base year 2020. In this context, results from January 2020 onwards are recalculated, the statistics office said.

Non-harmonized, national data showed inflation rising 1 percent on the month and 8.7 percent on the year.

ZEW economist Friedrich Heinemann said the data suggests inflation in Germany has peaked. “However, anyone who takes this as an opportunity to warn the European Central Bank against further interest rate hikes suffers from a distorted perception,” he said. “Even the drop in inflation that can be expected from now on does not change the fact that the ECB is still well short of its two percent target.”

Related items

Viktor Orbán has not asked to join right-wing EU Parliament group, spokesperson says

Friday, 12 January 2024 15:23

‘They have not asked’ to join, ECR group offi

Marine Le Pen scores big win on toughened immigration bill

Tuesday, 19 December 2023 13:38

France’s far-right National Rally lawmakers c

EU vows Ukraine will get its money — with or without Orbán’s support

Saturday, 16 December 2023 02:08

Leaders are willing to bust Europe’s hallowed

The European Parliament has an election security problem

Tuesday, 12 December 2023 11:18

EU elections are coming but the institution’s

Crisis grows in Berlin as court warns 2023 supplementary budget is ‘problematic’

Monday, 04 December 2023 20:36

Auditors fire new warning shot at Olaf Scholz