Saturday, 20 April 2024

Inflation in Germany falls to its lowest level in about 3 years

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Preliminary data from the Federal Statistical Office showed on Tuesday that inflation in Germany fell slightly more than expected in March, supported by lower energy prices.

According to Reuters, inflation in Europe’s largest economies slowed in March to 2.3%, its lowest level since June 2021. Consumer prices, harmonized for comparison with other European Union countries, rose 2.7% on an annual basis in February.

Economists are paying close attention to German inflation data, as the country publishes its figures a day before the release of inflation data in the euro zone tomorrow, Wednesday.

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“The collective message from the data in Germany, France, Italy and Spain is that headline inflation in the euro area will be significantly below average this week,” said Klaus Vestesen, chief economist for the euro zone.

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