Germany's Inflation Rate Confirmed

The Federal Statistical Office (Destatis) has confirmed that Germany's annual inflation rate remained at 2.1% in April, aligning with preliminary reports and analysts' expectations. The final report, released on Wednesday, also noted a 0.4% increase in the Consumer Price Index (CPI) month-on-month.

Driving Forces Behind the Inflation

The inflation was primarily driven by a significant 2.8% rise in food prices compared to April 2024. In contrast, the energy sector experienced a notable annual decrease of 5.4%. The core inflation rate, which excludes food and energy, saw an advancement of 2.9%.

Harmonized Index of Consumer Prices (HICP) Growth

Additionally, the Harmonized Index of Consumer Prices (HICP) reported a 2.2% year-on-year growth and a 0.5% increase month-on-month, further detailing the economic landscape in Germany.