Germany: Inflation is accelerating to its highest level since 1981

(Boursier.com) — The German preliminary consumer price index excluding seasonal adjustments rose 7.3% in March, year-on-year, against 6.2% consensus and 5.1% a month before. In harmonized European data, the German CPI even climbed 7.6% year-on-year, against 6.6% of the FactSet consensus. This is the strongest German inflation since 1981, with in particular the surge in oil and gas prices. These data follow a Spanish consumer price index for the month of March, in harmonized European data, also up very sharply by 9.8% year-on-year, against 8.1% consensus.