Germany's
Federal Statistical Office (Destatis) reported on Monday the country’s consumer
price index (CPI) is estimated to jump 0.5 per cent m-o-m in April, after climbing 0.4 per cent m-o-m in March. That would mark the strongest monthly gain in the index since March 2023 (+0.8 per cent m-o-m).
On a y-o-y
basis, Germany’s CPI is seen to climb 2.2 per cent in April, the same pace in the previous month.
Economists had forecast
CPI would surge by 0.6 per cent m-o-m and by 2.3 per cent y-o-y in April.
According to
the report, energy prices fell by 1.2 per cent y-o-y this month, slowing from a decline of 2.7 per cent y-o-y in March. Meanwhile, the food prices
rose by 0.5 per cent y-o-y after
a decrease of 0.7 per cent y-o-y in the previous month. The services costs increased
by 3.4 per cent y-o-y, decelerating
from 3.7 per cent y-o-y in the previous month.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is estimated to soar by 0.6 per cent m-o-m and by 2.4 per cent y-o-y. Economists had predicted
advances of 0.6 per cent m-o-m and 2.3 per cent y-o-y for April. In March, the German HICP climbed by 0.6 per cent m-o-m and 2.3 per cent y-o-y.