According to the German Statistical Office (FSO), Germany’s Consumer Price Index (CPI) saw a 9.2% increase on a yearly basis in January, adjusted for comparison with the European Union (EU). Despite being lower than the expected 10% YoY increase, the January CPI still showed a rise of 0.5% compared to December 2022.
Although analysts had predicted a YoY increase of 10% and a MoM increase of 1.2%, the actual figures showed an unadjusted YoY increase of 8.7% and a MoM increase of 1.0%.
The data reveals a persistent upward trend in Germany’s consumer prices and provides valuable insight into the country’s current economic situation.