German inflation slows in January: official data

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Inflation in Germany, Europe's biggest economy, slowed to 1.7 percent in January from 2.1 percent in December, official data showed on Thursday.

On a monthly basis, the German consumer price index (CPI) fell by 0.5 percent last month, according to preliminary data compiled by the national statistics office Destatis.

Using the Harmonised Index of Consumer Prices (HICP), the ECB's inflation yardstick, the rate of inflation in Germany also eased to 1.9 percent in January from 2.1 percent in December, Destatis said.

The ECB defines price stability as increases in HICP of close to but just below 2.0 percent.

Preliminary inflation data are calculated using consumer price data for six of Germany's 16 federal states.

Final data, based on statistics for all 16 states, are scheduled to be published on February 20.

© 2013 AFP

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