Germany sees lowest inflation rate in February since mid-2021

By Gokhan Ergocun

ISTANBUL (AA) - Germany's annual inflation was at 2.5% in February, the lowest level since June 2021, official figures showed on Thursday.

The rate was at 2.9% in January, 3.5% in December 2023, and 3.2% in November, according to data from statistical authority Destatis.

"Energy prices in February 2024 were 2.4% lower than in the same month a year earlier despite the discontinuation of the brake on energy prices as of January 2024 and the introduction of a higher carbon price also from January 2024, which affects the price of fossil fuels such as motor fuels, heating oil and natural gas," the authority said.

The increase in food prices, 0.9%, slowed markedly compared to February 2023 and was lower than the overall inflation rate for the first time since November 2021.

The monthly inflation rate was at 0.4% in February.