Germany's
Federal Statistical Office (Destatis) reported on Monday the country’s consumer
price index (CPI) is expected to rise by 0.3 m-o-m in March after increasing by 0.4 per cent m-o-m in February.
On a y-o-y
basis, Germany’s CPI is seen to soar by 2.2 per cent in March, following a 2.3 per cent jump in the
previous month. That would
mark the weakest annual gain in consumer prices since November
2024 (+2.2 per cent).
Economists had expected
CPI would climb 0.4 per cent m-o-m and 2.2 per cent y-o-y in March.
According to
the report, energy prices plunged by 2.8 per cent y-o-y this month, quickening from a fall
of 1.6 per cent y-o-y in February. Meanwhile, food prices jumped by 2.9 per
cent y-o-y, hastening from a 2.4 per cent y-o-y surge in the previous month.
The services costs soared by 3.8 per cent y-o-y, decelerating from a
3.8 per cent y-o-y climb in February.
The harmonized
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is anticipated to advance by 0.4 per cent m-o-m and
2.3 per cent y-o-y (the least since September 2024 (+1.8 per cent y-o-y)).
Economists had forecast gains
of 0.5 per cent m-o-m and 2.4 per cent y-o-y
for March. In February, the German HICP surged
by 0.5 per cent m-o-m and 2.6 per
cent y-o-y.