German inflation drops to 5 year low
German consumer prices are close to stagnating. According to the latest data released by the Federal Statistics office , the HICP rose by 0.1% MoM as of December, the lowest level since 2009.
The annual rate of inflation across Germany as of December 2014 is expected to be set at 0.9%, however the end of the year has seen a significant slowdown of price growth, largely to to falling oil prices.
According to the Federal Statistics office, energy prices plummeted by -6.6% YOY, while the prices for food and goods declined by -1.2% respectively.