The inflation fee in Germany elevated 1% in Jan, consistent with expectations.
Inflation fee measured because the year-on-year change within the shopper value index (or CPI), stood at +8.7% in Jan 2023 vs. 8.6% earlier month. Market expectation was 8.7%.
The shopper value index for Germany is revised and a brand new base 12 months is launched at common intervals. With impact from reference month January 2023, the index has been rebased from 2015 to base 12 months 2020.
“Following a slowdown at the end of last year, the inflation rate thus remains at a high level”, says Ruth Brand, President of the Federal Statistical Office. She provides: “We are observing price rises for many goods and, to an increasing degree, also for services. Households paid higher prices in particular for energy and food also in January.” The Federal Statistical Office (Destatis) additionally experiences that shopper costs in January 2023 had been up 1.0% on December 2022.
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