German Inflation Confirmed At 2.3%

(RTTNews) - Consumer price inflation in Germany held steady in February as initially estimated, the latest data from the statistical office Destatis showed on Friday.

The consumer price index rose 2.3 percent year-on-year in February, the same as in January. That was in line with the flash data published on February 28. 

Food inflation rose to 2.4 percent from 0.8 percent, while costs for energy products were 1.6 percent cheaper compared to last year. Prices for services were 3.8 percent more expensive.

Core inflation, which excludes food and energy prices, eased to 2.7 percent in February, remaining above the general inflation trend.

Prices for goods in total increased 0.9 percent annually in February, largely on the back of consumer goods.

On a monthly basis, consumer prices rose 0.4 percent in February after falling 0.2 percent in the previous month, as estimated.

The harmonized index of consumer prices rose 2.6 percent in February, slower than January's 2.8 percent rise. In the flash report, the inflation rate was also 2.8 percent. Monthly, the HICP rose 0.5 percent, revised down from 0.6 percent.