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Editor in Chief Mohamed Wadie

Germany's Inflation Falls to Lowest Level in 3 Years

Wed 03 Apr 2024 | 04:23 AM
Taarek Refaat

Preliminary data from the Federal Statistical Office showed on Tuesday that inflation in Germany fell slightly more than expected in March, supported by lower energy prices.

Inflation in Europe's largest economy slowed in March to 2.3%, its lowest level since June 2021. Consumer prices, harmonized for comparison with other EU countries, rose 2.7% year-on-year in February.

“The consensus message from the data in Germany, France, Italy and Spain is that headline inflation in the euro area will be significantly below average this week,” said Claus Vistesen, chief eurozone economist.

A Reuters poll of economists showed that the inflation rate in the euro zone is expected to reach 2.6% in March, unchanged from the previous month.