German Official Inflation Slows in January to 1.7%

Inflation in Germany, Europe's biggest economy, slowed to 1.7 percent in January from 2.0 percent in December, official data showed on Wednesday.

On a monthly basis, the German consumer price index (CPI) fell by 0.5 percent last month, according to final data compiled by the national statistics office Destatis.

The numbers confirm preliminary data released at the end of January.

Using the Harmonised Index of Consumer Prices (HICP), the ECB's inflation yardstick, the rate of inflation in Germany also eased to 1.9 percent in January from 2.1 percent in December, Destatis said.

The ECB defines price stability as increases in HICP of close to but just below 2.0 percent.