German inflation remained at 1.6% in February

The German statistical office Destatis published a preliminary report on the dynamics of consumer prices in in February this year.

According to the report, the annual inflation rate according to standards remained at the January level of 1.6%, which is in line with economists ‘ estimates.

Compared to January, consumer prices increased by 0.6%. Their growth slowed compared to the January rise of 1.4%. Experts ‘ forecast suggested an increase in prices by 0.5% for the month.

According to Destatis data, annual inflation by national standards was fixed at 1.3%, while the indicator expected by experts was 1.2%. Compared to the previous month, prices increased by 0.7%, while the economists forecast suggested their growth by 0.5%.

February’s inflation rate was the highest since March last year. Food products for the twelve months to February rose by 1.4%. Energy costs rose 0.3%, while transportation costs rose 1.4%.

Leave a Reply

Your email address will not be published. Required fields are marked *