German annual consumer prices turned positive and rose by far more than expected in January, the Federal Statistics Office said on Thursday, attributing a rise in sales tax and the minimum wage as factors behind the increase. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.6% .
By Reuters Staff
2 Min Read
BERLIN (Reuters) - Robust exports helped Germany eke out 0.1% growth in the final quarter of last year, staving off contraction despite a second wave of the new coronavirus slamming the brakes on consumption in Europe’s largest economy, the Federal Statistics Office said.
FILE PHOTO: The skyline with its financial district is photographed during sunset as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, October 26, 2020, REUTERS/Kai Pfaffenbach
Goods exports and construction supported the economy while a renewed lockdown at the end of last year hit private consumption, the Office said on Friday. A Reuters poll had pointed to 0.0% fourth-quarter growth.
By Reuters Staff
2 Min Read
BERLIN (Reuters) - Robust exports helped Germany eke out 0.1% growth in the final quarter of last year, staving off contraction despite a second wave of the new coronavirus slamming the brakes on consumption in Europe’s largest economy, the Federal Statistics Office said.
FILE PHOTO: The skyline with its financial district is photographed during sunset as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, October 26, 2020, REUTERS/Kai Pfaffenbach
Goods exports and construction supported the economy while a renewed lockdown at the end of last year hit private consumption, the Office said on Friday. A Reuters poll had pointed to 0.0% fourth-quarter growth.
By Reuters Staff
1 Min Read
BERLIN, Jan 28 (Reuters) - German annual consumer prices turned positive and rose by far more than expected in January, the Federal Statistics Office said on Thursday, attributing a rise in the minimum wage as one possible explanation for the increase.
Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.6% year-on-year after declining by 0.7% in December.
January’s preliminary data compared with a Reuters forecast for a rise of 0.5%.
“In addition to the changes in VAT rates, the development of consumer prices may also be influenced by other factors such as the CO2 price and the increase in the statutory minimum wage from January 2021,” the Statistics Office said in a statement. (Reporting by Paul Carrel; editing by Thomas Seythal)