Germany's annual inflation at 2.2% in March, lowest since May 2021

By Gokhan Ergocun

ISTANBUL (AA) - Germany's annual inflation rate was at 2.2% in March 2024, hitting the lowest level since May 2021, the federal statistical office Destatis revealed on Friday.

The inflation rate was down from 2.5% in February and 2.9% in January, the office stated.

"The price situation for energy and food had a dampening effect on inflation for the second consecutive month," Ruth Brand, the president of Destatis, said, adding: “In March 2024, consumers had to pay less for food than a year earlier for the first time since February 2015."

On a monthly basis, the consumer prices rose by 0.4% in March.