German Consumer Prices Rise Less Than Forecast In January

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German consumer prices rose by less than forecast on annual basis in January, preliminary official data showed Wednesday.

German's CPI rose by 0.8 percent from a year ago in January, Destatis announced, suggesting that inflation remains well in check in the euro area.

CPI fell by 0.6 percent in January from the previous month.

Consumer prices were expected to rise 1 percent on year, and ease only 0.3 percent on the month.

The EU Harmonized reading slipped to 0.7 percent from 0.8 percent.

(Market News Provided by RTTNews)