Federal Statistical Office: Inflation in January at its lowest level in years

Federal Statistical Office: Inflation in January at its lowest level in years


Inflation in Germany weakened significantly at the beginning of the year. The Federal Statistical Office confirmed Initial estimates from the end of January put it at 2.9 percent in the first month of the year. This was 0.8 percentage points lower than in December – and as low as it was last in June 2021.

Falling energy prices are responsible for this. Despite the removal of price controls and a higher CO2 price, energy products fell by 2.8 percent year-on-year, according to statisticians. Prices for household energy fell by 3.4 percent and for fuel by two percent. Solid fuels, heating oil, electricity and gas also became cheaper; only district heating rose by 13.3 percent year-on-year.

Food price growth continued to be above overall inflation, with the Wiesbaden statisticians citing a figure of 3.8 percent compared to the same month last year. This means that inflation weakened compared to the previous month: in December it was still 4.6 percent year-on-year.

This article will continue to be updated.



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