Germany posts 0.2% inflation
Print Edition
INFLATION in Germany, Europe’s biggest economy, slowed to just 0.2 percent in December, its lowest level in more than five years, and averaged 0.9 percent for the whole of 2014, data showed yesterday.
In final data confirming a preliminary flash estimate released earlier this month, the federal statistics office, Destatis, calculated that German inflation stood at just 0.2 percent year on year last month, down from 0.6 percent in November.
The last time inflation in Germany was lower than 0.2 percent was in October 2009.
For 2014 as a whole, inflation stood at an annual average 0.9 percent, Destatis calculated.
Using the Harmonised Index of Consumer Prices, the yardstick used by the European Central Bank, inflation in Germany was even lower at 0.1 percent last month, way under the ECB’s annual inflation target of just below 2 percent.
The chronically low level of inflation across the single currency bloc has fuelled concern the region could slip into deflation — a sustained and widespread drop in prices that hampers economic activity and could lead to job losses.
While falling prices may be good for consumers, deflation can spark a spiral in which firms and households delay buying, killing demand and causing firms to lay off workers.
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