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 analyst expectations. This stability comes amidst a monthly increase of 0.3% in the Consumer Price Index (CPI).

Key Drivers Behind the Inflation Rate

Food prices emerged as a significant factor, with a notable acceleration of 3.0% compared to March 2024. In contrast, the energy sector experienced an annual decline of 2.8%. Excluding food and energy, the core inflation rate saw a rise of 2.6%.

Harmonised Index of Consumer Prices (HICP) Trends

The HICP also reflected this trend, showing a year-on-year growth of 2.3% and a month-on-month increase of 0.4%.