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
Economists had forecast increases of 0.7 percent m-o-m and 9.0
In January, the German HICP rose by 0.5 percent m-o-m and 9.2 percent