In March 2022, consumer prices in Germany, calculated according to national standards, increased by 7.3% compared to the same month in 2021, after rising by 5.1% a month earlier, final data from the country’s Federal Statistical Office (Destatis) showed. Relative to the previous month, prices increased by 2.5%.

The dynamics of indicators coincided with the previously announced data.

Inflation in March updated a new maximum since the reunification of Germany, notes Destatis. The last time such a high rate of inflation was observed in the fall of 1981.

Prices for food and non-alcoholic beverages in Germany rose 5.9% year-on-year last month and 0.8% month-on-month. Services became more expensive by 2.8% year-over-year and 0.4% month-over-month. Household energy prices rose 35.3% and 12.8%, respectively. Clothing and footwear prices were up 2% year-over-year and 4.5% month-over-month.

Consumer prices in Germany, harmonized with EU standards, increased by 7.6% in March in annual terms. This figure was also the highest since the fall of 1981. Inflation in monthly terms amounted to 2.5%.

The dynamics of both indicators coincided with the previously announced data and the average forecasts of analysts surveyed by Trading Economics. In February, consumer prices in the Federal Republic of Germany rose by 5.5% in annual terms and by 0.9% in monthly terms.