Economic Buzz: German inflation confirmed to grow from 2.7% to 2.9% in April

Annual inflation in Germany stood at 2.9% in April, in line with preliminary data, the Federal Statistical Office (Destatis) confirmed on Tuesday in its final report. The figure was higher compared to 2.7% registered in March.

Month on month, the Consumer Price Index (CPI) rose 0.6% in the reported month. The document stated that the change was primarily driven by a rise in energy prices due to the military conflict in Iran. Meanwhile, annual core inflation, which excludes food and energy, came in at 2.3%.

Additionally, the Harmonized Index of Consumer Prices grew 2.9% in April compared to the same month a year ago, while seeing a monthly increase of 0.5%.

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