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March Flash CPI Confirmed at +7.3%

GERMAN DATA
MNI (London)

MAR FINAL HICP +2.5% M/M, +7.6% Y/Y; FEB +5.5 Y/Y

MAR FINAL CPI +2.5% M/M, +7.3% Y/Y; FEB +5.1% Y/Y

  • German inflation was confirmed at +7.3% y/y in March, the highest level since German reunification and similar to 1981 levels. Core inflation rose 3.6% y/y.
  • Prices accelerated 2.5% m/m, due to soaring energy prices and persistent supply bottlenecks continuing to inflate input prices.
  • Energy prices rose 39.5% y/y in March (Feb: +22.5%), of which heating oil was up 144.0%, followed by motor fuel rising 47.4%.
  • Food prices grew by +6.2% y/y.

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