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Financial News: German Inflation Highest In 4 Years

German Inflation Highest In 4 Years

01/30/2017 - 08:35:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation accelerated for a second straight month in January to its highest level in four years, preliminary figures from Destatis showed Monday.

The consumer price index rose 1.9 percent year-on-year after 1.7 percent increase in December. Economists had forecast an inflation rate of 2 percent.

The latest inflation figure equaled the one from July 2013. A higher rate was seen in December 2012, when inflation was 2 percent.

Energy inflation more-than-doubled to 5.8 percent from 2.5 percent. Food price inflation accelerated to 3.2 percent from 2.5 percent.

Compared to the previous month, the CPI declined 0.6 percent in January. Economists had predicted a 0.5 percent fall.

The EU measure of inflation, the harmonized index of consumer prices, climbed 1.9 percent year-on-year in January after 1.7 percent increase in the previous month. Economists had forecast 2 percent inflation.

A similar HICP inflation was previous seen in June and July 2013, which a higher figure was seen December 2012, when inflation was 2 percent.

On a month-on-month basis, the HICP dropped 0.8 percent, which was slightly faster than the 0.7 percent economists' had expected.

Destatis is set to release final figures on February 14.

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