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Financial News: German Inflation Steady In April

German Inflation Steady In April

04/30/2018 - 09:25:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation remained unchanged in April, defying expectations for a modest slowing, while the harmonized figure eased.

The consumer price index rose 1.6 percent year-on-year, same as in March, preliminary data from Destatis showed Monday. Economists had expected the rate to drop to 1.5 percent.

Energy price inflation more than doubled to 1.2 percent from 0.5 percent and food inflation accelerated to 3.4 percent from 2.9 percent.

On a month-on-month basis, the CPI remained unchanged in April, while economists had expected the index to drop 0.1 percent. The harmonized index of consumer prices, or HICP, rose 1.4 percent from a year ago, after a 1.5 percent increase in March. Economists had expected the rate to remain unchanged. Compared to the previous month, the HICP dropped 0.1 percent in April, in line with economists' expectations. Destatis is set to release the final results for April on May 16.

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