Economic Buzz: German Consumer Prices Accelerate 5.1% In February

11 Mar 2022 , 02:35 PM

German consumer price inflation rose to 5.1 percent in February from 4.9 percent in January, driven by energy prices, final results from the statistical office Destatis showed on Friday. The increase in inflation during February was largely driven by the 22.5 percent increase in energy product prices. Food prices were up 5.3 percent. Meanwhile, clothing and footwear prices dropped 1.1 percent. Excluding food and energy, consumer prices gained 3 percent in February. On a monthly basis, consumer prices climbed 0.9 percent. EU harmonized inflation accelerated to 5.5 percent in February from 5.1 percent in January. Month-on-month, the HICP gained 0.9 percent, the same rate as seen in January.

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