Germany's annual inflation accelerated in January from 1.8% to 2.1%.
According to preliminary estimates, Germany's annual inflation accelerated to 2.1 percent in January from 1.8 percent the previous month, adding 0.1 percent on a monthly basis. This is stated in a press release from the country's Federal Statistical Office.
The figure surged more than expected by Trading Economics experts, who predicted a price increase of 2 percent. In November, the annual inflation rate in Germany was at 2.3 percent. Thus, its fluctuations during the winter were quite significant.
The so-called core inflation, excluding food and energy prices, is expected to be 2.5 percent in the largest economy in Europe, which is also slightly higher than December's 2.4 percent. At the same time, food prices in January increased much more than in the previous month, rising by 2.1 percent instead of 0.8 percent as before.
It was also reported on January 30 that the unemployment rate in Germany rose to its highest level in 12 years. Chancellor Friedrich Merz called this a worrying signal.
