Inflation in Germany in February amounted to 8.7%
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In February, inflation in annual terms in Germany amounted to 8.7%. Such data today, March 1, published by the Federal Statistical Office (Destatis). That is, inflation remained at the same level as in January, and turned out to be slightly worse than analysts’ expectations, who predicted a rise in prices by 8.5%. Compared to the previous month, prices in February rose by 0.8%.
Growth in energy prices somewhat slowed down in February – it amounted to 19.1% year on year against 23.1% in January and 31.4% in November. Prices for foodstuffs increased by 21.8%, for goods in general – by 12.4%, for services – by 4.7%.
According to Commerzbank chief economist Jörg Kremer, Germany is now facing a third wave of inflation. The first was associated with rising energy prices, the second – with the continuing high material costs of enterprises. Now inflation will be caused by rising wages. The head of the Bundesbank, Joachim Nagel, said on Wednesday that the bank expects an average inflation rate of 6-7% this year.
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