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Inflation rate below one percent in Germany

According to the Federal Statistical Office, consumer prices increased by just 0.9% in January this year as compared to January last year. Prices even fell by 0.5% on December 2008. The smaller inflation rate is in particular due to smaller increases in prices for fuels and heating oil.

In January 2009 fuel prices were between 13.5% and 15.6% below the price levels of January 2008. As compared to December 2008, however, they increased by between 1.3% and 4.4% in different German Lander. Prices for fuel oil increased by between 2.2% and 8.9% in January 2009 as compared to December 2008. Nevertheless, prices were by between 12.4% and 21.3% down on January 2008. Prices for electricity increased by between 2.1% and 6.5% in the month-to-month comparison and were up by between 3.7% and 9.1% on January last year.

The European consumer price index for Germany will probably have increased by 0.9% in January this year as compared to the respective month last year. It has fallen by 0.6% since December 2008.

For the time being the above figures are preliminary. Final data will be available on February 11th. GERMAN