Final data from the Federal Statistics show that price pressure on German consumers eased in January, with the Consumer Price Index (CPI) up 2.3% from the same month in the previous year.
This ratio confirms the initial estimates from the Data Office.
In December, the annual CPI rate was 2.6%. Consumer prices fell 0.2% in January compared to last month.
Energy prices last month were 1.6% lower than the same period last year, which helped to alleviate inflation. The price of both fuels fell by 0.1% and the household energy cut by 2.5%, which also helped. For example, the price of heating oil fell by 1.2%, while electricity was 3.6%.
However, gas prices rose 0.5% compared to January 2024, and regional heating rose 9.8%. Statisticians explain that this may also be due to rising prices of carbon dioxide (CO2) and rising costs of gas networks.
Food prices have hardly increased
The rate of growth in food prices fell to 0.8%, up from 2% per year in December.
The 0.8% increase is a year-on-year price increase since December 2020.
In contrast, the average price of services such as insurance, car repairs and restaurant visits continued to rise by 4%. Net cold rents increased by 2%.
Consumers feel the price rises
The inflation wave after Russia's full invasion of Ukraine in February 2022 has subsided, but consumer prices still rose on average from 5.9% in 2023. However, people buy at a higher price in their daily life, such as when they buy at a higher price. Food or pay for energy.
