Germany: Annual HICP falls to 5.1% in January vs. 4.7% expected

Germany's Harmonized Index of Consumer Prices (HICP), which is the ECB's preferred gauge of inflation, fell to 5.1% YoY in January from 5.1% in December, above consensus forecasts for a 4.7% reading, according to a preliminary estimate published by Destatist. The MoM change in HICP was 0.9%, well above consensus forecasts for a 0.4% decline in January and unchanged from the 0.9% MoM gain in December (which was revised up from 0.3%).