The consumer price index (CPI) in Germany will stand at 7.4% in March, according to the preliminary estimate of the Federal Statistical Office (Destatis), which represents the lowest year-on-year rise in prices since April of last year, after the 8.7% rise observed in the months of February and January 2023. The data remains above the 7.3% expected by the consensus.

The data published this Thursday is a leading indicator, so the final figure will not be known until April 13.

For its part, the harmonized rate of inflation, used by Eurostat for its calculations in the euro zone, has been estimated at 7.8%, substantially below the 9.3% in February.

However, in March food prices continued to grow above average and rose by 22.3% annually, compared to 21.8% the previous month, while the rise in energy prices slowed down considerably. slowing to 3.5% from 19.1% in February.

“In addition to the base effect, which is due to the high level of the index in March 2022, the measures of the third relief package of the Federal Government reflected in the consumer price index have contributed to development,” Destatis said.

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