German inflation pushes higher

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% on the month, the Federal Statistical Office (Destatis) reported on Wednesday. According to data that confirmed provisional results, consumer prices, harmonized to compare with other European Union countries, jumped by 9.2% year-on-year. Compared with December, prices increased by 0.5%. “Following a slowdown at the end of last year, the inflation rate thus remains at a high level,” said Destatis President Ruth Brand. “We are observing price rises for many goods and, to an increasi

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