Germany: Inflation at 2.3% in February
Germany: Inflation at 2.3% in February

Germany: Inflation at 2.3% in February

3 months ago

Food prices have contributed to high inflation, reaching its highest rate since January 2024.

German consumer prices rose by 2.3% in February compared to the same month last year, according to the Federal Statistical Office, or Destatis.

The figures announced on Friday remained unchanged from those seen in January’s report.

The sharpest rise in food prices in over a year prevented a decline. Food prices increased by 2.4%, the highest rate since January 2024.

From January to February, prices for goods and services increased by 0.4%.

Consumers, however, paid 1.6% less for energy than in January.

The office reported that annual inflation, harmonized to compare with other European Union countries, fell to 2.6% in February.

Economists expect inflation to decline throughout the year, though perhaps not as quickly as hoped.

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