Germany: Inflation Rate at Its Highest Level in 7 Months

Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates.

For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year.

consumer prices rose by 0.8%, month-on-month, following a 0.5% increase in December. The finalized number was in line with prelim figures.

Ahead of the inflation figures, the euro rose from an early low $1.21088 to a high of $1.21298.

In response to the inflation figures, the Euro slipped to a low $1.21229 before hitting a fresh daily high of $1.21339.