Germany's annual inflation up 5.1% in February

By Ovunc Kutlu

ANKARA (AA) – Annual inflation rate in Germany was up by 5.1% in February, compared to the same month of the last year, official data revealed on Tuesday.

The market expectation for annual inflation was to remain unchanged from the January level of 4.9%.

On a monthly basis, consumer prices were up 0.9% in February from the previous month, the Federal Statistical Office (Destatis) said in a statement.

In February, energy prices soared 22.5% on an annual basis, while food prices jumped 5.3%.

"COVID-19-related effects such as delivery bottlenecks and significant price increases at upstream stages in the economic process as well as in energy product prices continue to have an impact," the statement said.

"These effects are superimposed by uncertainties caused by the Russian attack on Ukraine," it added.