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Germany's inflation slows for 4th month; household consumption at 23-year high

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Germany's inflation slows for 4th month; household consumption at 23-year high

Germany's inflation fell to 1.2% in February from 1.4% in January, in eurozone-harmonized terms, in line with provisional results and the fourth month in a row the rate has declined, the Federal Statistical Office said, even as it announced the largest annual increase in household consumption in 23 years.

Harmonized consumer prices rose by 0.5% on a monthly basis, it said.

Germany's own consumer price index added 1.4% in the month in yearly terms, down from 1.6% inflation in January. Month on month, the consumer price index gained 0.5%.

Excluding energy prices, which were up 0.1% from February 2017, the annual inflation rate would have been 1.5%. Energy inflation slowed from 0.9% in January.

Food price inflation fell to 1.1% in February from 3.1% the previous month. Prices for services were up 1.6%.

According to a separate release, household consumption at current prices rose by 3.6% in 2017, the largest annual increase since 1994. The final consumption expenditure of households was up 1.9% in 2017 compared to a year ago, in price-adjusted terms.