German Consumer Prices Rise For First Time Since June
January 29, 2021
9:46 am
German consumer prices climbed in January for the first time in seven months, provisional official data showed Thursday, due to the end of a temporary VAT cut to stimulate spending in the pandemic.
Inflation moved into positive territory at the start of 2021, at 1.0 percent year-on-year, according to preliminary data from federal statistics agency Destatis. It was the highest level since March.
The figure surprised analysts polled by Factset, who had forecast a rate of 0.55 percent.
A sales tax reduction to boost consumer spending from July after the first wave of the virus contributed to lower prices in …
