Ekonomické zprávy

Germany’s annual CPI jumps 2.5 per cent in February

Germany's Federal Statistical Office (Destatis) reported on Thursday the country’s consumer price index (CPI) is estimated to rise 0.4 per cent m-o-m in February after rising 0.2 per cent m-o-m in January. That would mark the strongest monthly increase since April 2023 (+0.4 per cent m-o-m).

On the y-o-y basis, Germany’s CPI is seen to soar 2.5 per cent in February, following a 2.9 per cent climb in the previous month. That would represent the softest annual advance since June 2021 (+2.4 per cent).

Economists had expected CPI would increase by 0.5 per cent m-o-m and by 2.6 per cent y-o-y in February.

According to the report, energy prices declined by 2.4 per cent y-o-y this month, following a fall of 2.8 per cent y-o-y in January. At the same time, the food prices rose by 0.9 per cent y-o-y, slowing steeply from 3.8 per cent y-o-y in the previous month, while the services costs climbed by 3.4 per cent y-o-y, unchanged from the previous month.

Meanwhile, the harmonized index of consumer prices for Germany (HICP), which is calculated for European purposes, is estimated to jump by 0.6 per cent m-o-m and by 2.7 per cent y-o-y. Economists had forecast a 0.6 per cent m-o-m gain and a 2.7 per cent y-o-y surge for February. In January, the German HICP dropped by 0.2 per cent m-o-m and climbed by 3.1 per cent y-o-y.

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