German inflation eases to 7.2% in April 2023: Destatis

Compared with March 2023, the CPI was up by 0.4 per cent in April 2023. Price increases were recorded, for instance, for clothing at 1.8 per cent. Energy prices as a whole also went up to 0.7 per cent. Total motor fuel prices climbed by 1.6 per cent, including super-grade petrol at 2.8 per cent, as opposed to diesel fuel at -2.1 per cent. Decreases were observed in the prices of heating oil at -3.1 per cent and natural gas at -0.3 per cent compared with the previous month, Destatis said in a press release.

The prices of goods in total were up by 9.3 per cent in April 2023 on the same month of the previous year. The price increase was particularly pronounced for non-durable consumer goods at 11.4 per cent. The prices of consumer durables rose by 5.9 per cent from April 2022.

ALCHEMPro News Desk (NB)