German inflation slowed to 9.2% in January

According to a report by the German Federal Statistical Office, consumer prices harmonized with EU standards increased by 9.2% year-on-year in January. Thus, the inflation rate slowed down from 9.6% in December and turned out to be the lowest since August. The data coincided with the preliminary assessment and consensus forecast of analysts.

On a monthly basis, consumer prices rose by 0.5%, which also coincided with preliminary data and experts' expectations. In December, prices fell by 1.2%.

Prices calculated only according to German standards increased by 8.7% year-on-year in January and by 1% compared to the previous month. In December, the first indicator increased by 8.6%, the second – decreased by 0.8%.

The cost of food in Germany in January increased by 20.2% compared to a year earlier, clothing and footwear – by 2.8%. Utilities rose by 8.9%, the cost of electricity jumped by 25.7%. Medical services increased in price by 2.9%, educational services – by 3.6%, transport services – by 7.5%. Consumer prices excluding food and energy increased by 7.2%.