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German Final Feb CPI +0.6% On Month; +2.2% On Year

14 Mar 2017 7:27 am

By Nina Adam

FRANKFURT--Germany's annual inflation rate rose further in February, hitting its highest level in four-and-a-half years, led by energy and fresh food prices.

Germany's annual inflation rate, measured by harmonized European Union standards, rose to 2.2% from 1.9% in January, the Destatis statistics body said, confirming a preliminary inflation estimate from Mar. 1. It marks the highest rate since August 2012.

Despite the pickup in headline inflation in Germany and elsewhere in the eurozone, there may be no change in the European Central Bank's loose monetary policy given that it is volatile energy and food prices which are pushing the inflation rate up. Many economists expect inflation to ease again this spring, as domestic price pressures remain low.

Energy prices in Germany jumped 7.2% in February from the same month last year. Destatis said that the move was largely the result of a "base effect", because energy prices hit a low point in February 2016. Food prices rose 4.4%, led by rising prices for fresh vegetables.

Write to Nina Adam at nina.adam@wsj.com

(END) Dow Jones Newswires

March 14, 2017 03:27 ET (07:27 GMT)

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