Economic Buzz: German inflation at 2.1% in January

Germany's consumer price inflation accelerated in January, as estimated, on higher food and services costs, final data from Destatis revealed Tuesday.

Destatis confirmed that consumer price inflation rebounded to 2.1 percent in January from 1.8 percent in December.

Similarly, EU harmonized inflation accelerated to 2.1 percent from 2.0 percent in the prior month. The rate matched the earlier estimate published on January 30.

Food prices posted an annual growth of 2.1 percent after rising 0.8 percent in December. At the same time, services inflation softened to 3.2 percent from 3.5 percent.

Core inflation, which excludes volatile food and energy prices, ticked up to 2.5 percent from 2.4 percent a month ago.

On a monthly basis, the consumer price index edged up 0.1 percent, as estimated, after remaining flat in December. Meanwhile, the harmonized index of consumer prices fell 0.1 percent, also matching the initial estimate.

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