Germany's Federal Statistical Office (Destatis) announced on Monday the
country’s consumer price index (CPI) is anticipated to increase 0.4 percent
m-o-m in January 2022 after jumping 0.5 percent m-o-m in December 2021.
On the y-o-y basis, Germany’s CPI is seen to rise 4.9 in January,
following a 5.3 percent surge in the previous month. This represents the softest
advance since October 2021 (+4.5 percent).
Economists had predicted inflation would decrease 0.3 percent m-o-m and climb
4.3 percent y-o-y in January.
According to the report, energy prices jumped 20.5 percent y-o-y in January,
quickening from 18.3 percent y-o-y in the previous month. Meanwhile, food
prices surged 5.0 percent y-o-y, decelerating from 6.0 percent y-o-y in December,
and services costs increased 3.0 percent y-o-y, Germany’s annual CPI rises 4.9 percent in January easing from 3.1 percent y-o-y in December.
Meanwhile, the harmonized index of consumer prices for Germany (HICP),
which is calculated for European purposes, is forecast to rise 0.9 percent
m-o-m (the most since January 2021) and 5.1 percent y-o-y (the least in three
months). Economists had forecast a 0.4 percent m-o-m decline and a 4.7 percent y-o-y gain.