Germany's
Federal Statistical Office (Destatis) reported on Thursday the country’s
consumer price index (CPI) is estimated to rise 0.4 per cent m-o-m in February after rising 0.2 per cent m-o-m in January. That would mark the strongest monthly increase since April 2023 (+0.4 per cent m-o-m).
On the y-o-y
basis, Germany’s CPI is seen to soar 2.5 per cent in February, following a 2.9 per cent climb in the
previous month. That
would represent the softest annual advance since June 2021
(+2.4 per cent).
Economists had expected
CPI would increase by 0.5 per cent m-o-m and by 2.6 per cent y-o-y in February.
According to
the report, energy prices declined by 2.4 per cent y-o-y this month, following
a fall of 2.8 per cent y-o-y in January. At the same time, the food prices rose
by 0.9 per cent y-o-y, slowing steeply from 3.8 per cent y-o-y in the previous
month, while the services costs climbed by 3.4 per cent y-o-y, unchanged from the
previous month.
Meanwhile, the
harmonized index of consumer prices for Germany (HICP), which is calculated for
European purposes, is estimated to jump by 0.6 per cent m-o-m and by 2.7 per
cent y-o-y.
Economists had forecast a 0.6 per cent m-o-m gain and a 2.7 per cent y-o-y surge
for February. In January, the German HICP dropped by 0.2 per cent m-o-m and climbed
by 3.1 per cent y-o-y.