Germany's inflation rate expected to be 7.2% in Apr 2023: Destatis

Energy and food prices, in particular, have increased considerably since the war started in Ukraine and have had a substantial impact on the inflation rate.

The YoY increase in energy prices was 6.8 per cent in April this year—smaller than the rate of change of the overall index, as had also been the case in March 2023 (3.5 per cent).

There is a base effect as the index level was high in April 2022 after energy prices had soared following the Russian attack on Ukraine, Destatis said in a release.

In addition, the measures of the Federal Government’s third relief package, which are reflected in the consumer price index, have contributed to the current slowing of energy price increase.

ALCHEMPro News Desk (DS)