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Inflation rate at +1.0% in January 2021
The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +1.0% in January 2021, following a 0.3% decrease in December 2020. A positive inflation rate was last seen in June 2020 (+0.9%). The Federal Statistical Office (Destatis) also reports that consumer prices rose by 0.8% compared with December 2020.The temporary reduction in the rates of value added tax, which was a measure of the Federal Government's stimulus package, ended on 31 December 2020. The reduced tax rate only continues to apply to restaurants and catering services. The fact that the higher tax rates ... (full story)