German Inflation Confirmed at 1.3% Y/Y in February

12 March 2021

By David Barwick – FRANKFURT (Econostream) – Consumer prices in Germany were confirmed to have risen in February by 1.3% on the year to almost the level of before the pandemic, according to the German Federal Statistical Office on Friday.

The increase was the highest since 1.4% in March of last year and represented a clear pick-up of the pace of price growth after January’s 1.0% and negative annual readings in each of the last four months of last year.

On the month, the preliminary German CPI estimate of 0.7% in February was also confirmed, as were the harmonized readings of 1.6% on the year and 0.6% on the month.

Goods inflation registered 1.0% on the year in February, with energy prices up 0.3% after January’s -2.3% and food up 1.4% following +2.2% the previous month.

Inflation without energy products came in at 1.4%.