Consumer prices in Germany rose by 1.6% in January, as expected

Consumer prices in Germany rose by 1.6% in January 2018 compared with January 2017. The inflation rate - measured by the consumer price index - thus decreased slightly at the beginning of the year (December 2017: +1.7%, November 2017: +1.8%). Compared with December 2017, the consumer price index fell by 0.7% in January 2018, which was largely due to seasonal influences. The Federal Statistical Office (Destatis) thus confirms its provisional overall results of 30 January 2018.

Energy prices, which in January 2018 were by 0.9% higher than a year earlier, had a downward effect on the overall inflation rate. Also, the increase in energy prices slowed again (December 2017: +1.3%; November 2017: +3.7%). From January 2017 to January 2018, prices rose especially for heating oil (+5.5%). Price increases were also recorded for electricity (+1.6) and charges for central and district heating (+1.5%). In contrast, the prices of gas (-1.3%) and motor fuels (-0.5%) were down on the same month a year earlier. Excluding energy prices, the inflation rate would have been slightly higher (+1.7%) in January 2018.