(CercleFinance.com) – German inflation continued to slow down, moving closer to the 2% target set by the European Central Bank (ECB), according to statistics published on Tuesday.
According to Destatis, the consumer price index (CPI) should have reached 2.2% in March, compared to 2.5% in February. This is its lowest level since April 2021.
Excluding the volatile elements of energy and food, the deceleration of the CPI index was, however, less marked, at 3.3% compared to 3.4% in February.
‘This is explained by the rise in inflation in services, whose prices are increasingly determined by the sharp increase in wage costs,’ explain Commerzbank analysts.
For the entire euro zone, the annual inflation rate, which is to be published tomorrow, is expected to be stable at 2.6% on an annual basis in March and at 3.1% in basic data.
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