US EditionGerman inflation accelerates to 2.9% in April
Energy prices rose 10.1% from a year earlier, while core inflation eased to 2.3%, according to the Federal Statistical Office.
- German consumer prices rose to 2.9% in April, preliminary data from the Federal Statistical Office showed on Wednesday, marking an acceleration from the 2.7% recorded in March.
- Surging Energy costs driven by the war in Iran propelled the increase, as Fuel and heating prices rose 10.1% compared with the same month last year.
- Core Inflation, which excludes volatile food and Energy prices, fell to 2.3 per cent in April, while Lower Saxony recorded the highest regional Inflation at 3.0 per cent.
- Analysts polled by Reuters had forecast a 3.1% increase, so the 2.9% figure came in lower than expected, providing relief as policymakers assess economic fallout from rising global Energy costs.
- The European Central Bank is expected to keep interest rates on hold at a Thursday meeting, though rate hikes remain likely for the June gathering as officials weigh Energy-driven inflation pressures.
50 Articles
50 Articles
The inflation rate in Germany rose to 2.9 percent in April, according to a first estimate by the Federal Statistical Office in Wiesbaden, which is the highest in more than two years.
German consumers spent 2.9 percent more on their daily expenses in April than a year earlier. As a result, inflation this month was higher than in March, when the average price level rose by 2.7 percent. Energy, in particular, became more expensive, as the Iran war caused sharp increases in prices for oil, gas, and fossil fuels.
The cost of fuel has risen sharply, and food is also becoming more expensive - the Iran war is driving inflation up. This makes it increasingly difficult for the tablets to help the weakest in society, by Axel John.
The Iran war has greatly increased the cost of life in Germany. Recent data show that the price shock has not yet been met. Many households are already barely able to make ends meet.
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