According to the report from the Federal Statistical Office, the consumer price index (CPI) increased by 0.1% in January 2021 compared with the previous month, reaching 100.1 points (December 2020 = 100). The index was expected to remain unchanged. Inflation was –0.5% compared with the same month of the previous year. Economists had expected a 0.6% decrease.

The 0.1% increase compared with the previous month is due to several factors including rising prices for hotel accommodation. Fuel also recorded a price increase, as did second-hand cars. In contrast, prices for air transport and clothing and footwear decreased, the latter due to seasonal sales.