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- Germany’s annual CPI increases 1.7 percent in March
Germany’s annual CPI increases 1.7 percent in March
Germany's
Federal Statistical Office (Destatis) reported on Tuesday the country’s
consumer price index (CPI) is expected to increase 0.5 percent m-o-m in March after
gaining 0.7 percent m-o-m in the previous month.
On the y-o-y
basis, Germany’s CPI is seen to surge 1.7 in March, following a 1.3 percent
jump in February. This represents the largest advance since February 2020.
Economists had
predicted inflation would rise 0.5 percent m-o-m and 1.7 percent y-o-y in March.
According to
the report, food price increased 1.6 percent y-o-y in March after a 1.4 percent
y-o-y gain in February. Services costs also grew 1.6 percent y-o-y in March, accelerating
from 1.4 percent y-o-y in the previous month. Energy prices jumped 4.8 percent
y-o-y after a 0.3 percent y-o-y advance in February.
Meanwhile, the
harmonized index of consumer prices for Germany (HICP), which is calculated for
European purposes, is expected to rise 0.5 percent m-o-m and 2.0 percent y-o-y.
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