In February, German consumer prices saw a 2.3% year-over-year increase, consistent with January's report, primarily driven by the sharp rise in food prices, which increased 2.4%, the highest since January 2024. While overall prices for goods and services rose by 0.4%, energy costs declined by 1.6% compared to the previous month. The annual inflation rate, adjusted for EU comparisons, dropped to 2.6%. Economists forecast a gradual decline in inflation rates for the rest of the year, though expectations are cautious about the pace of decrease.
Consumer prices in Germany experienced a notable rise of 2.3% in February year-over-year, maintaining January's figures, driven significantly by food price increases.
Food prices surged by 2.4%, marking the highest increase since January 2024, which had a substantial impact on the overall consumer price index.
Despite a reduction in energy costs by 1.6% from January, the overall prices of goods and services rose by 0.4% from January to February.
While annual inflation harmonized for EU comparison reduced to 2.6% in February, economists predict a slower decline in inflation throughout the year.
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