Germany’s consumer prices rose at a faster-than-expected pace in March after remaining unchanged in the previous month, preliminary estimates from Destatis revealed Wednesday.
The consumer price index climbed 0.3 percent year-on-year following no change in February. Economists had forecast 0.1 percent rise.
Energy prices tumbled 8.9 percent after an 8.5 percent slump in the previous month. Food prices rose 1.3 percent following a 0.8 percent gain in February.
Compared to the previous month, the CPI increased 0.8 percent in March after rising 0.4 percent in February. Economists had expected 0.6 percent climb. The monthly gain was the fastest since February last year.
The harmonized index of consumer prices, or HICP, meant for EU comparison purposes, edged up 0.1 percent year-on-year following a 0.2 percent decline in February, the first fall since September. Economists had expected no change.
The HICP rose 0.8 percent monthly, which was double the 0.4 percent climb in February.
Destatis is scheduled to release detail data for March inflation on April 12.
The material has been provided by InstaForex Company – www.instaforex.com