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German Inflation Lower than Expected in January

By Nina Adam Dow Jones Newswires

German inflation came in lower than expected in January amid sharp discounts of package holidays.

Germany's annual inflation rate--measured by harmonized European Union standards--fell to 1.4% from 1.6% in December, the Federal Statistical Office said Tuesday.

Economists polled by The Wall Street Journal had forecast a slight increase to 1.7%.

The outcome is also below the European Central Bank's target, because the ECB aims to keep inflation in the eurozone at just below 2%.

The statistics office said that energy prices in Germany were up 0.9% from January 2017, while food prices increased 3.1%. It will publish a detailed inflation report on Feb. 14.

Write to Nina Adam at nina.adam@wsj.com

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January 30, 2018 08:36 ET (13:36 GMT)