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, according to dpa. 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.
