German Inflation Accelerates More Than Expected

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Germany’s consumer price inflation rose more than expected in February, preliminary figures from Destatis showed Monday.

The consumer price index climbed 1.3 percent year-on-year following 1.0 percent increase in January. Economists had forecast 1.2 percent inflation. Prices rose for a second straight month.

Compared to the previous month, the CPI rose 0.7 percent in February after a 0.8 percent increase in January. Economists had expected 0.5 percent gain.

Inflation based on the EU measure of HICP was steady at 1.6 percent in February. That was in line with economists’ expectations.

On a month-on-month basis, the HICP climbed 0.6 percent in February, which was slightly faster than the 0.5 percent economists had expected.

Energy prices rose 0.3 percent annually after a 2.3 percent fall in the previous month. Food prices climbed 1.4 percent following a 2.2 percent increase in January.

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