By Ed Frankl
German inflation fell in January to its lowest level since June 2021, led down by falling energy prices, likely leading to further calls for the European Central Bank to start cutting rates.
Consumer prices were 2.9% higher in January than the same month a year earlier, compared with 3.7% in December, measured by national standards, data from the German statistics office Destatis showed Wednesday. It matched expectations of a consensus of economists polled by The Wall Street Journal.
Energy prices were 2.8% lower than at the same point a year ago, despite the introduction of a new carbon tax. Food prices slowed to an inflation rate of 3.8%, compared with 4.5% in December.
Meanwhile, core inflation, which excludes volatile food and energy prices, ticked down to 3.4% in January from 3.5% in December, according to Destatis.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
01-31-24 0829ET
