The pace of food price increases slowed in Germany in January

Inflation decreased to 2.9 percent in January after 3.7 percent in December last year, which is the lowest annual rate since June 2021, when the rate of annual increase in consumer prices was 2.3 percent.

Compared to the previous month, the consumer price index decreased by 0.2 percent, after the monthly price increase of 0.2 percent in December.

In January, energy prices fell by 2.8 percent on an annual basis, and the rate of increase in food prices slowed to 3.8 percent in January after the 4.6 percent increase in December.

Excluding food and energy prices, consumer prices (core inflation) rose by 3.4 percent on an annual basis in January. In December, the rate was 3.5 percent.