Germany's annual inflation plunges to over-2-year low in January

By Tuba Ongun

ANKARA (AA) — Germany's annual consumer inflation eased to 2.9% in January, the lowest figure since June 2021, according to a flash data released on Wednesday.

The figure slowed from 3.7% in December, with a decline in the cost of energy, Destatis data showed.

January's consumer prices climbed at a rate slower than the market forecast of 3%.

Energy prices dropped 2.8% at an annualized pace in January, swinging from a 4.1% rise in the prior month.

The annual increase in food prices cooled further this month, at 3.8%, compared to 4.5% in December 2023.

Core inflation, which excludes food and energy, slowed to 3.4% in January.

On a monthly basis, consumer prices increased by 0.2% this month.