Inflation in Germany eased in January owing to a fall in energy prices, official data showed Thursday.
The consumer price index (CPI) in Europe's largest economy rose by 1.3 percent in January from a year ago, the German Federal Statistical Office said.
The moderate inflation was mainly due to the price drop in mineral oil products. On a year-on-year basis, prices of mineral oil products declined by 5.2 percent, while food prices went up by 3.6 percent.
Measured by the Harmonized Index of Consumer Prices (HICP), the European Central Bank (ECB)'s yardstick, the rate of annualized German inflation was 1.2 percent, lower than the bank's medium maintenance target of "below but close to 2.0 percent."
Earlier data from the EU statistical office showed the eurozone annualized inflation rate was 0.7 percent in January, down from 0.8 percent in December 2013. Economists warned of possible deflation in the common currency area.
ECB chief Mario Draghi said last week that low inflation was expected to remain for months to come, and the bank would maintain an accommodative stance of monetary policy for as long as necessary. The eurozone interest rate remained at a record low of 0.25 percent./.