German Inflation Steady At 1.7% As Estimated

Germany's consumer prices increased at a steady pace in February, final data from Destatis revealed on Friday.

Consumer price inflation remained unchanged at 1.7 percent in February. This was in line with the estimate published on February 28. A similar higher rate was last seen in July 2019.

On a monthly basis, consumer prices gained 0.4 percent as initially estimated. Cost of package holidays advanced 15.5 percent, while energy prices were down 1.2 percent.

The harmonized index of consumer prices, or HICP that is meant for EU comparison, rose 1.7 percent annually in February after a 1.6 percent increase in January.

The latest HICP inflation rate was the highest since April 2019, when it was 2.1 percent.

On a monthly basis, the HICP rose 0.6 percent in February, in contrast to a 0.8 percent decrease in the previous month. Both annual and monthly rates came in line with preliminary estimate.

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