17 February 2004, 10:40  German Jan CPI confirmed at +1.2% y/y

BERLIN, Feb 17 - German inflation accelerated slightly in January, as reforms designed to trim government spending boosted healthcare costs, the Federal Statistics Office reported on Tuesday, confirming preliminary data. Consumer prices rose 0.1 percent from December and 1.2 percent from January 2003, the Office said. In December, prices advanced 0.8 percent month-on-month and 1.1 percent year-on-year. The increase in healthcare costs in January was partly offset by a drop in prices of mineral oil products, package holidays and holiday apartments, the Office said. Excluding health costs, which jumped 16.9 percent in the month and 17.6 percent in the year, the overall index advanced 0.6 percent compared with January 2003, it added.
Final data for consumer prices harmonised to compare with other European Union countries showed a monthly rise of 0.1 percent and a gain of 1.3 percent year-on-year, also matching preliminary figures. Eurostat, the EU's statistics office, is due to publish a report on January consumer price inflation for the 12-nation euro zone on February 27, along with a flash estimate for February inflation. According to its flash estimate for January published on February 4, consumer price inflation in the bloc held at two percent last month, roughly in line with the European Central Bank's goal of maintaining inflation rates below, but close to, two percent over the medium term. The Statistics Office said that excluding heating oil and fuel, its consumer price index was up 1.4 percent year-on-year in January, and was unchanged on the month. Data on healthcare costs may have to be revised as not all details of the government's health reforms were available at the time the January figures were calculated, the Office said.//

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