Annual German inflation slumped to a
five-year low of 0.9 per cent, data released Wednesday, as oil prices slumped
on the back of slowing global demand, dpa
reported.
Inflation in Europe's biggest economy stood at 1.1 per cent in December.
Economists had expected inflation to remain at 1.1 per cent in January.
The nation's statistics office said the country's inflation rate is now at its
lowest level since February 2004.
This, as a result, helps to give the European Central Bank room to move to try
to spur economic growth by pressing on with further rate cuts.
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