Ekonomické zprávy

Germany’s annual CPI increases 8.7 percent in February

Germany's Federal Statistical Office (Destatis) announced on Wednesday the country’s consumer price index (CPI) is estimated to climb 0.8 percent m-o-m in February after jumping 1.0 percent m-o-m in January. 

On a y-o-y basis, Germany’s CPI is seen to soar by 8.7 percent in February, the same pace as in the previous month.

Economists had predicted inflation would rise 0.6 percent m-o-m and 8.5 percent y-o-y in February.

According to the report, energy prices surged 19.1 percent y-o-y this month, decelerating sharply from 23.1 percent y-o-y in January. Meanwhile, food prices soared 21.8 percent y-o-y, quickening from 20.2 percent y-o-y in January, and services costs increased 4.7 percent y-o-y, hastening from 4.5 percent y-o-y in the previous month.

The harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is seen to advance 1.0 percent m-o-m and 9.3 percent y-o-y.

Economists had forecast increases of 0.7 percent m-o-m and 9.0 percent y-o-y.

In January, the German HICP rose by 0.5 percent m-o-m and 9.2 percent y-o-y.

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