Germany's Inflation Rate Confirmed at 2.2% in March

The Federal Statistical Office (Destatis) has confirmed that Germany's annual inflation rate remained at 2.2% in March, aligning with preliminary reports and analysts' expectations. The Consumer Price Index (CPI) saw a modest increase of 0.3% month-on-month.

Key Drivers Behind the Inflation Rate

Food prices emerged as the primary driver, with a notable 3.0% increase compared to March 2024. In contrast, energy prices experienced a decline, dropping by 2.8% annually. The core inflation rate, which excludes food and energy, rose by 2.6%.

Harmonised Index of Consumer Prices (HICP) Trends

The HICP showed a year-on-year growth of 2.3% and a month-on-month increase of 0.4%, indicating a steady inflation trend in Germany.