Consumer prices in Germany, calculated by national standards, rose 8.7% in February 2023 compared to the same month in 2021, according to preliminary data from the country’s Federal Statistical Office (Destatis). Prices in Germany also rose 8.7% year on year in January. Relative to the previous month, prices rose 0.8% in January. Analysts had expected a 9.1% increase and a 0.3% decrease in January. This also puts pressure on the DAX index.

Inflation in Germany

Food and soft drinks prices in Germany rose by 20.2% on an annualized basis in February after growth of 21.8% a month earlier. Services became 4.7% more expensive. Household energy prices slowed to 19.1% after rising 23.1% in January.

Consumer prices in Germany, harmonized with EU standards, rose 9.3% year on year in February. The rate of inflation accelerated from 9.2% in January. Analysts polled by Trading Economics had on average forecast a slowdown in inflation last month to 9 percent. Final inflation data for December will be released March 10.

Earlier, we reported that Goldman foresees a slight weakening of the yen.