Germany’s Consumer Price Inflation Slips Slightly, But In Line With Expectations; Food Inflation Contributes Significantly To Overall Number

  @arjunkashyap a.kashyap@ibtimes.com on
Holiday Shopping Germany 2011
Holiday shoppers walk through a mall.

Germany's consumer price inflation as measured by the consumer price index, or CPI, in February grew by 1.2 percent over the same period last year, slightly lower than the readings in January and December, but in line with expectations, according to official data released Friday. The consumer price index had stood at 1.3 percent in January and at 1.4 percent in December.

The dip in inflation was mainly attributed to a drop in prices of heating oil and motor fuels, while the increase in food prices contributed to a significant portion of the overall inflation rate, according to a press release from the Federal Statistical Office. Prices were up for dairy products such as milk, yogurt and cheese, while vegetables, fruit and fish  were more expensive, the release noted.

Compared with January, the consumer price index was up by 0.5 percent in February, which was attributed to seasonal factors such as a pick-up in prices of holidays goods and clothing.

 

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