BERLIN (Reuters) – German inflation inched up in April to 2.4%, the federal statistics office said on Tuesday, confirming preliminary data.
German consumer prices, harmonised to compare with other European Union countries, had risen by 2.3% year-on-year in March, the lowest rate in almost three years.
“Energy and food prices, in particular, have had a dampening effect on the inflation rate since January 2024,” said Ruth Brand, president of the federal statistics office.
“However, core inflation – measured as the change in the consumer price index excluding food and energy – has been higher than overall inflation since the beginning of the year,” she added in a statement.
Core inflation in April was 3.0%, according to the data.
Moreover, the confirmation of the 2.4% inflation rate underscores the resilience of the German economy amidst global uncertainties. With consistent economic policies and prudent fiscal management, Germany has been able to mitigate the impact of external factors on its inflation rate. This stability provides a favorable environment for businesses and consumers to plan and make informed decisions.
Moving forward, policymakers and analysts will closely scrutinize the German inflation rate’s trajectory. They will assess its potential impacts on monetary policy and economic growth. Navigating post-pandemic recovery and global economic shifts, Germany aims to maintain a stable inflation rate. This stability is crucial for long-term prosperity.
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