Consumer prices rose 8.7% year-on-year in January, official data shows Germany’s inflation rate rose 8.7% on the year in January and 1.0% on the month, the Federal Statistical Office (Destatis) said in a press release on Thursday. According to the preliminary data, consumer prices, harmonized to compare with other European Union countries, rose by a less-than-anticipated 9.2% year-on-year. Compared with December, prices increased by 0.5%, Destatis said. Analysts had expected harmonized data to grow by 10.0% on an annual basis and increase by 1.2% on the previous month, according to Reuters. “Because core inflation
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