Inflation in Germany fell significantly in March due to falling energy prices but was higher than expected, putting pressure on the European Central Bank to further tighten monetary policy.
German consumer prices, adjusted for comparison with other European Union countries, rose 7.8% year-on-year in March, according to preliminary data from the federal statistics office.
Compared to February, prices were up 1.1%, he added.
Analysts had expected the harmonized data to show monthly increases of 0.8% and 7.5% year over year.
The decline in the inflation rate was entirely driven by the slowdown in energy prices, which rose by just 3.5% from March 2022, when they had risen following the Russian invasion of Ukraine.
Source: Terra
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