Germany's Federal Statistical Office (Destatis) informed on Thursday the
country’s consumer price index (CPI) is anticipated to increase 0.8 percent
m-o-m in April after climbing 2.5 percent m-o-m in March. This would be the
weakest monthly advance in three months.
On the y-o-y basis, Germany’s CPI is seen to jump 7.4 percent in April,
following a 7.3 percent surge in the previous month. This would mark the sharpest
rise since 1981.
Economists had predicted inflation would increase 0.6 percent m-o-m and 7.2
percent y-o-y in April.
According to the report, food prices soared 8.5 percent y-o-y in April, accelerating
sharply from 6.2 percent y-o-y in March, while services costs increased 2.9
percent y-o-y, hastening slightly from
2.8 percent y-o-y in the previous month. At the same time, the energy prices increased
35.3 percent y-o-y this month, slowing
from 39.5 percent y-o-y in March.
Meanwhile, the harmonized index of consumer prices for Germany (HICP),
which is calculated for European purposes, is seen to rose 0.7 percent m-o-m and 7.8 percent y-o-y. Economists had forecast
increases of 0.4 percent m-o-m and 7.6 percent y-o-y.