German consumer prices in March increased by 1.6% on an annual basis. The previous month’s figure was 1.4% and today’s figure was expected to be +1.7%.
The more important “Harmonised Index of Consumer Prices” (HICP) for ECB purposes is +1.5%. The previous month’s figure was 1.2% and today’s figure was expected to be +1.6%.
After an increase of 1.1% in February, which was significantly weaker than in the previous months, the price increase for foodstuffs was again +2.9% in March. This also pulls the cut slightly upwards.