FX.co ★ German Inflation Confirmed At 2.2%

Final data from Destatis confirmed that consumer price inflation in Germany remained steady in April, matching the initial estimate. As in March, the inflation rate was 2.2 percent, which is the lowest figure since May 2021.

Moreover, the EU harmonised inflation saw a slight increase to 2.4 percent from the previously estimated 2.3 percent. Data showed an easing of core inflation, which excludes food and energy, from 3.3 percent in March to 3.0 percent in April.

Food prices in April experienced an annual increase of 0.5 percent, countering a 0.7 percent decline from the previous month. Simultaneously, the decrease in energy prices softened to 1.2 percent from 2.7 percent recorded in March. The prices of goods overall saw a 1.2 percent increase, while service prices were 3.4 percent higher.

Measured monthly, consumer prices in April had a 0.5 percent boost, and the Harmonised Index of Consumer Prices (HICP) also witnessed a rise of 0.6 percent. These figures showed no variance from the initial estimate.