The CPI in Germany rebounded to 8.7% in January, but the harmonized data fell to 9.2%

MADRID, 9 Feb. (-) –

The German Consumer Price Index (CPI) stood at 8.7% last January, one tenth above the year-on-year rise in prices observed in December 2022, according to the first reading of the data published by the Federal Statistical Office (Destatis).

However, the harmonized inflation data for Germany, which Eurostat uses for its statistics, registered a relief of four tenths in January, standing at 9.2%, compared to 9.6% in December, its lowest level in five months.

The German statistical office did not publish the preliminary inflation reading for the ‘European locomotive’ on time due to technical data processing problems, so Eurostat used its own estimates to calculate the advanced harmonized inflation data for the eurozone, which in January moderated to 8.5% from 9.2% in December.

Thus, year-on-year inflation in the euro area moderated in January for the third consecutive month, standing at its lowest level since May 2022, before the European Central Bank (ECB) began raising interest rates in July of 2022.

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