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German consumer prices up nearly 1 pct in January

The Wiesbaden-based agency said the consumer price index rose only 0.9 percent in January compared to last year, and that the index has steadily fallen since August 2008.

In January, the year-on-year rate of price increase was below 1 percent for the first time since February 2004. Compared with December 2008, January consumer prices fell by half a percent.

The agency noted that the prices for liquid fuel had declined, though the price for electricity and natural gas increased in January.

“The low inflation rate in January 2009 is mainly due to the favorable trend of mineral oil product prices, which were 15.4 percent under the level of January 2008,” the office said in a statement.

“Prices of household energy sources such as gas _ plus 20 percent _ as well as charges for central heating and remote heat _ plus 16 percent _ were up. Electricity prices, too, increased considerably on a year earlier _ plus 5.3 percent.”

Food prices rose 1.1 percent for the month, the office said.

The statistical office said durable goods prices fell 0.7 percent in January, with television prices down 24 percent and notebook computer prices down 22 percent.