Germany: Annual CPI at 1.7% in January

According to data released today by Destatis, German annual inflation rose 1.7% in January, down from +2.1% registered the previous month. This result is in line with analysts' forecasts. On a monthly basis German CPI fell 0.5% in January, after growing 0.9% in December, as expected.

Year-over-year German HICP rose 1.9% in January vs 2% in December. On a monthly basis HICP declined 0.7%, following a 0.9% increase. Both results are in line with consensus.

The annual Producer Price Index climbed 1.7%, up from 1.5% and above expectations of +1.2%. Month-over-month PPI increased 0.8%, compared with the 0.3% fall and above forecasts of growing 0.3%.