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German inflation stayed at 2.1% in January

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German inflation stayed at 2.1% in January

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Inflation in Germany remained above the European Central Bank’s two percent target in January. It was 2.1 percent compared with a year ago. That was the same level as in December.

In its final reading, the data from the national statistics office Destatis seem to show that much of the increase was due to rising energy costs. Energy prices, including fuel for vehicles, rose to 7.2 percent.

Excluding energy prices, overall inflation would have been 1.5 percent.

On a monthly basis the consumer price final index was up 0.4 percent compared with December’s 0.7 percent rise.