Inflation in Germany rose again slightly in January. As reported by the Federal Statistical Office (Destatis) on Wednesday, the annual inflation rate was 8.7 percent after it had been 8.1 percent in December. The Wiesbaden authority thus confirmed preliminary figures that they had published almost two weeks ago.
In the clothing and footwear product category, the annual inflation rate was well below the average: here prices rose by only 2.8 percent compared to January 2022. Compared to the previous month of December, they even fell by 4.7 percent due to seasonal effects.
On the other hand, the significant price increases for energy products (+23.1 percent) and food (+20.2 percent) played a decisive role in the high inflation. Without these two categories, the annual inflation rate would have been just 5.6 percent in January, the statistics agency said.
“After a weakening at the end of the year, the inflation rate remains at a high level,” said Ruth Brand, President of the Federal Statistical Office, in a statement. “We are seeing price increases for many goods and increasingly also for services. However, the rising prices for energy and food were particularly noticeable for private households in January.”