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Consumer prices in Germany up 0.5%, GDP steady

Staff writer |
Consumer prices in Germany rose 0.5 percent year-on-year in January of 2016, up from a 0.3 percent increase in the preceding month and matching preliminary estimates.

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This is the highest figure since May 2015, as cost of rents and food increased further while cost of energy declined at a slower pace.

Inflation rate in Germany averaged 2.43 percent from 1950 until 2016, reaching an all time high of 11.54 percent in October of 1951 and a record low of -7.62 percent n June of 1950.

The German economy advanced a seasonally-adjusted 0.3 percent in the fourth quarter of 2015, the same pace as in the previous quarter and in line with market expectations.

Positive contributions came mainly from domestic demand while foreign trade had a downward effect on growth, preliminary estimates showed. For full year of 2015, the economy grew by 1.7 percent.

GDP growth rate in Germany averaged 0.31 percent from 1991 until 2015, reaching an all time high of 2 percent in the second quarter of 2010 and a record low of -4.50 percent in the first quarter of 2009.

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