Inflation in Germany hits 2-year high as energy prices up for 1st time since 2023

ISTANBUL

Annual inflation rate in Germany reached 2.7% in March, hitting the highest level since January 2024, the Federal Statistical Office (Destatis) stated on Monday.

Energy prices jumped 7.2% year-on-year in March, marking the first increase since December 2023, according to Destatis' preliminary figures.

The core inflation rate, which excludes food and energy prices, stood at 2.5% during the same period.

Food prices showed a slight increase of 0.9% in March compared to the same month last year.

Consumer prices also increased by 1.1% in March compared to February.

The office scheduled the release of the final inflation results for March on April 10.