Germany’s consumer prices rose at the fastest pace in eight months during January, exceeding economists’ expectations, preliminary data from Destatis showed Thursday.
The consumer price index climbed 0.5 percent year-on-year following 0.3 percent increase in December. Economists had forecast 0.4 percent rise.
The latest inflation figure was the highest since May last year, when it was 0.7 percent.
Month-on-month, the CPI fell 0.8 percent in January, in line with economists’ expectations.
The harmonized index of consumer prices, which is meant for EU comparison, rose 0.4 percent year-on-year in January after a 0.2 percent gain in the previous month. The increase was in line with economists’ expectations.
The latest HICP inflation was the fastest since May last year, when the index rose 0.7 percent.
Compared to the previous month, the HICP dropped 0.9 percent, which was slightly less than the 1 percent fall economists had predicted.
Destatis is set to release detail data for January inflation on February 12.
The material has been provided by InstaForex Company – www.instaforex.com