German inflation eases in March to 7.4%
Inflation in Germany slowed to 7.4% in March from a year ago, preliminary data from the federal government’s statistics agency Destatis showed on Thursday.
In January and February, the index was 8.7%.
Most economists believe that inflation in Europe’s largest economy has passed its peak. However, they don’t expect a rapid reduction in prices this year.
Food prices show ‘above average growth’
Inflation has eased considerably due to lower increases in energy prices, Destatis said.
The rise in energy prices slowed to 3.5% after energy prices spiked in March 2022 when the Russian invasion of Ukraine drove up energy costs.
But the agency says food prices continued to show “above-average growth”, rising 22.3% from March last year.
In a possible relief for the less affluent in a country where many people rent out their properties, rent price inflation has come in sharply below aggregate rates and has been stable at around 2% over several months.
lo/msh (AFP, dpa)
Source: DW
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