German economy begins new year with higher inflation

The annual inflation rate in Germany came in at 8.7% in January, up from 8.1% in December, official figures showed on Wednesday, News.Az reports citing Anadolu Agency. 

According to provisional figures by the Federal Statistical Office (Destatis), Germany's energy and food prices were main drivers of rise in inflation, with 23.1% and 20.2% hikes, respectively, in January.

The country's inflation rate excluding energy and food prices was at 5.6% in January.

On a monthly basis, Germany's inflation stood at 1% in January.


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