German price growth slows

City A.M. Reporter
GERMANY’S consumer price inflation for March was confirmed at a rate of 0.5 per cent month-on-month and 1.4 per cent year-on-year, the Federal Statistics Office said yesterday.

The pace of price expansion fell from an annualised 1.5 per cent in February, the office said, confirming figures released at the beginning of the month.

Inflation in Germany is at its lowest rate in two years, and remains below the Eurozone’s target of two per cent.

Much of the drop was due to falling prices for oil products, though electricity prices rose 12.4 per cent, FSO added.

Food prices rose 3.7 per cent on last year, led by fruit and meat products.