Inflation in Germany Falls to Lowest Level in Nearly 3 Years

Final data from the Federal Statistical Office of Germany released today, Friday, shows that inflation decreased in March due to a decline in energy and food prices. Inflation in the largest economy in Europe registered at 2.3 percent, the lowest level since June 2021. The harmonized consumer prices, which facilitate comparisons with other EU countries, increased by 2.7 percent year-on-year in February. Core inflation, which excludes volatile food and energy prices, was recorded at 3.3 percent in March, down from 3.4 percent in February. Food prices fell by 0.7 percent year-on-year, and energy prices decreased by 2.7 percent in March compared to the same month last year. Overall service prices increased by 3.7 percent year-on-year in March.