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Germany's consumer price inflation slowed as estimated in January, final data from Destatis showed Wednesday.

The consumer price index rose 1.6 percent year-on-year after 1.7 percent increase in December, final data from Destatis showed Wednesday. The rate came in line with preliminary estimate.

On a monthly basis, the CPI dropped 0.7 percent, as initially estimated, reversing a 0.6 percent rise in December. The major reason for the decline was seasonal factors.

The harmonized index of consumer prices, or HICP, rose 1.4 percent year-on-year after a 1.6 percent climb in the previous month.

On a month-on-month basis, the HICP dropped 1 percent in January. Both annual and monthly HICP inflation rates were confirmed.

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