Notizie economiche
14.05.2025

German consumer price growth slowed in April

According to the final report from the Federal Statistical Office (Destatis), in April, consumer prices rose by 2.1% per year, as expected, after increasing by 2.2% in March. This was the weakest growth since October 2024. Destatis said that the development of energy prices had a significant downward effect on inflation in April. On the other hand, the rise in food prices pushed inflation higher. In addition, the above-average increases in service prices intensified once again.

On a monthly basis, consumer prices rose by 0.4%, as expected, after increasing by 0.3% in March.

The data also showed that in April, energy prices fell by 5.4% per year after falling by 2.8% in March. The prices of motor fuels (-8.3%) and household energy (-3.4%) were down year on year, with consumers benefiting from lower prices for electricity (-2.5%), firewood, wood pellets and other solid fuels (-4.6%) and heating oil (-12.8%). By contrast, district heating was somewhat more expensive (+0.2%) than a year earlier. Food prices in April 2025 were up 2.8% year on year, after +3.0% in March 2025. Meanwhile, excluding energy prices, the inflation rate stood at +2.8% in April. The inflation rate excluding food and energy, often referred to as core inflation, was +2.9% in April.

Destatis said that in April, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Germany with inflation in European countries - rose by 0.5% on a monthly basis and by 2.2% per year. In March, HICP increased by 0.4% m/m and by 2.3% per annum.

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