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German inflation slowed to 9.2% in January


February, 22 2023
watermark Economic news

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%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.