Germany's Inflation Rate Confirmed at 2.2% in March

The final report from the Federal Statistical Office (Destatis) has confirmed that Germany's annual inflation rate remained at 2.2% in March, aligning with preliminary estimates and analyst predictions. This stability comes amidst a monthly increase of 0.3% in the Consumer Price Index (CPI).

Key Drivers Behind the Inflation Figures

Food prices emerged as a significant contributor, with a notable acceleration of 3.0% compared to March 2024. In contrast, the energy sector experienced a decline, with prices dropping by 2.8% annually. The core inflation rate, which excludes the volatile food and energy sectors, saw an increase of 2.6%.

Harmonised Index of Consumer Prices Shows Growth

The Harmonised Index of Consumer Prices (HICP) also reflected growth, with a 2.3% rise year-on-year and a 0.4% increase month-on-month, indicating a broader trend of inflation across the economy.