Germany's
Federal Statistical Office (Destatis) announced on Wednesday the country’s
consumer price index (CPI) is expected to advance by 0.4 m-o-m in April after gaining 0.3 per cent m-o-m in March.
On a y-o-y
basis, Germany’s CPI is seen to increase by 2.1 per cent in April, following a 2.2 per cent soar in the
previous month. That would
mark the weakest annual advance in consumer prices
since October 2024 (+2.0 per cent).
Economists had forecast
CPI would rise 0.3 per cent m-o-m and 2.0 per cent y-o-y in April.
According to
the report, energy prices plummeted by 5.4 per cent y-o-y this month, sharply hastening from
a plunge of 2.8 per cent y-o-y in March. Meanwhile, food prices increased by
2.8 per cent y-o-y, easing from a 3.0 per cent y-o-y climb in the previous month.
The services costs surged by 3.9 per cent y-o-y, accelerating from a
3.5 per cent y-o-y soar in March.
The harmonised
index of consumer prices for Germany (HICP), which is calculated for European
purposes, is anticipated to jump by 0.5 per cent m-o-m and 2.2 per cent
y-o-y (the least since September 2024 (+1.8 per cent y-o-y)). Economists had predicted increases of 0.4 per cent
m-o-m and 2.1 per cent y-o-y for April. In March, the German HICP rose by 0.4
per cent m-o-m and 2.3 per cent
y-o-y.