The German statistical office Destatis has published data on inflation for December. The results are more optimistic than analysts had predicted.
Destatis, the German equivalent of the Central Statistical Office, published German inflation data in December 2022. The data is much better than expected.
Inflation in Germany fell sharply
The German Harmonized Consumer Price Index (HICP) rose by 9.6% in December 2022 and fell by 1.2% on a monthly basis, German statistics office Destatis said in a preliminary release. The market consensus was 10.7 percent. Yearly. Thus, it is clear that despite the annual growth, which is still visible in the statistics, the monthly dynamics clearly begins to decline, which cannot but please the citizens.
The German office also reported that CPI inflation in December was 8.6 percent. compared to December 2021, and decreased by 0.8 percent on a monthly basis. This is another good signal not only for Germany, but also for Poland.
Falling inflation is also good news for Poland
It should be recalled that our western neighbor has been Poland’s largest economic partner for many years. Germany is the main destination for our export products. The stabilization of the economic situation in one of the EU’s largest economies will also have a calming effect on other markets and the entire EU.
Considering that most of the factors that affect inflation come from outside, good data from the largest economies can also be a positive impetus for change in Poland. It is worth remembering that it mainly depends on Germany, for example, how much gas will cost.
Source: Wprost
