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- Consumer prices in Germany rose in line with forecasts in March
Consumer prices in Germany rose in line with forecasts in March
According to the report from Destatis, сonsumer prices in Germany were up 1.3% in March 2019 compared with March 2018. This was a decline in the inflation rate - as measured by the consumer price index - which had been 1.5% in February 2019.
The prices of energy products in March 2019 were up 4.2% year on year, which had an upward effect on the overall inflation rate. In the preceding two months, the increases in energy prices had been much smaller (February 2019: +2.9%; January 2019: +2.3%). In March 2019, food prices were up 0.7% year on year. The increase in food prices thus slowed again; in February 2019, the relevant rate of price increase had been +1.4%. Compared with the overall inflation rate, the prices of goods as a whole increased by an above-average 1.6% in March 2019 year on year, which was due to the rise in energy product prices (+4.2%). In March 2019, the prices of services (total) were up 1.2% year on year.
Compared with February 2019, the consumer price index rose by 0.4% in March 2019. Especially the prices of package holidays were markedly up in March 2019 on the previous month (+7.8%). In addition, price increases were recorded for footwear (+3.7%) and clothing (+3.0%) compared with February 2019. A reason here was the changeover to the spring and summer collection.
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