FLGR - German inflation rate confirmed at 7.40% in March on energy cost

April, 13 2023 02:17 AM Franklin FTSE Germany

2023-04-13 02:17:34 ET

Inflation Rate in Germany decreased to 7.40 percent in March from 8.70 percent in February of 2023. In both January and February 2023, the inflation rate had been +8.7%.
The rate hit its lowest level since August 2022 but remained well above the ECB's target of 2.0 percent.
No change to the initial estimates as the decline in headline annual inflation in March owes much to base effects. Core inflation remains an issue and that will keep the ECB on the tightening path, at least for now.
Energy product prices were 3.5% higher in March 2023 than a year earlier. The increase in energy product prices thus slowed considerably, remaining below the inflation rate.
Harmonised index of consumer prices in March 2023 increased 7.8% on the same month a year earlier and 1.1% on the previous month.
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