Germany's CPI contracts MoM in January, comes in at -0.8%

FXStreet (Mumbai) - German's CPI contracted 0.8 per cent month on month in January matching large market expectations. It had dropped 0.1 per cent in December. Year on year, CPI increased 0.5 per cent in January, up from 0.3 per cent recorded previously and in tune with what markets expected.

Harmonised Index for Consumer Prices dropped 0.9 per cent month on month in January after having stagnated in December. It was expected to fall 1 per cent. Year on year it increased 0.4 per cent, lower than the expected 0.5 per cent growth but above 0.2 per cent increase seen previously.