German inflation slips in February

Germany's inflation rate has slipped a notch in Feburary according to official data.

The rate of inflation in Germany, Europe's biggest economy, inched lower in February, official preliminary data shows.

The cost of living rose by 1.2 per cent on a 12-month basis this month, compared with 1.3 per cent in January, the federal statistics office Destatis said on Thursday in a statement.

Using the Harmonised Index of Consumer Prices (HICP), the European Central Bank's inflation yardstick, inflation in Germany stood at 1.0 per cent in February, down from 1.2 per cent in January.

The ECB defines price stability as increases in the harmonised index of close to but just below 2.0 per cent.

The preliminary data are calculated on the basis of cost-of-living statistics from six so-called indicator states.

Final data based on consumer price inflation in all 16 of Germany's regional states are scheduled to be published on March 14.


1 min read

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Source: AAP


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