German EU-harmonised January consumer prices rise 9.2% y/y

German consumer prices, harmonised to compare with other European Union countries, rose by a less-than-anticipated 9.2% on the year in January, preliminary data from the federal statistics office showed on Thursday.

Compared with December, prices increased by 0.5%, it added.

Kraemer said inflation excluding energy and food was likely to remain stubbornly high this year, mainly because of rising wage costs.