Germany's annual inflation rises to 8.7% in January

By Tuba Sahin

ANKARA (AA) - Germany's annual consumer inflation rose to 8.7% in January, according to preliminary data from the federal statistics office on Thursday.

The figure was up slightly from 8.6% in December, but below the market forecast of 8.9%.

On a monthly basis, Germany's Consumer Prices Index is expected to rise 1% in January, Destatis said.

The statistics office also said starting this January, the consumer price index is rebased from 2015 to base year 2020. In this context, results from January 2020 onwards are recalculated.