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- Germany’s annual CPI climbs 1.3 percent in February
Germany’s annual CPI climbs 1.3 percent in February
Germany's
Federal Statistical Office (Destatis) reported on Wednesday the country’s
consumer price index (CPI) is expected to increase 0.7 percent m-o-m in February
after gaining 0.8 percent m-o-m in the previous month.
On the y-o-y
basis, Germany’s CPI is seen to surge 1.3 in February, following a 1.0 percent climb
in February. This represents the largest advance since March 2020.
Economists had
predicted inflation would rise 0.5 percent m-o-m and 1.2 percent y-o-y in February.
According to
the report, food price rose 1.4 percent y-o-y in February after a 2.2 percent
y-o-y increase in January. Services costs also grew 1.4 percent y-o-y in
February, the same pace as in the previous month. Energy prices went up 0.3
percent y-o-y after a 2.3 percent y-o-y decline in January.
Meanwhile, the
harmonized index of consumer prices for Germany (HICP), which is calculated for
European purposes, is expected to rise 0.6 percent m-o-m and 1.6 percent y-o-y.
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