Germany's annual inflation eases to 2.2% in March, as expected

By Mucahithan Avcioglu

ISTANBUL (AA) - The consumer prices in Germany posted an increase of 2.2% in March on a yearly basis, in line with the forecasts, according to preliminary data released on Monday.

The figure eased from the previous month's 2.3%, the Federal Statistical Office (Destatis) data said.

It was at 2.3% in February and January, easing from a 14-month high of 2.6% in December.

The fall in energy prices drove the overall easing in the annual inflation.

The price of energy products saw a decline of 2.8% in March year-on-year.

Meanwhile, above-average increases in service and food prices continued to drive up inflation with the upticks of 3.4% and 2.9%, respectively.

The inflation rate excluding food and energy, often referred to as core inflation, also rose 2.5% in March on an annual basis.

Compared with February, consumer prices increased by 0.3% in March on a monthly basis, which is also in line with market forecasts.