Consumer price growth in Germany accelerated in January

Consumer prices in Germany rose at an accelerating pace in January, bringing inflation closer to the European Central Bank’s target, but the numbers are still not convincing enough for the euro area central bank to change its policy of stimulating the economy.

According to preliminary data released by the German Federal Bureau of Statistics (Destatis) on Thursday, consumer prices rose 1.7 percent in January, in line with analysts’ expectations. They rose 1.5 percent in December and another 1.1 percent in November. (MTI)