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Germany's inflation rate slightly eased to 7.2 per cent YoY in April 2023, down from 7.4 per cent in March.
Consumer prices increased by 0.4 per cent in April compared to March, with notable hikes in clothing at 1.8 per cent, energy at 0.7 per cent, and motor fuel prices at 1.6 per cent.
The prices of goods overall rose by 9.3 per cent YoY in April.

The inflation rate in Germany, measured as the year-on-year (YoY) change in the consumer price index (CPI), stood at 7.2 per cent in April 2023. In March 2023, the inflation rate had been 7.4 per cent. Consumer prices in April 2023 rose by 0.4 per cent on March 2023, as per the Federal Statistical Office (Destatis).

Compared with March 2023, the CPI was up by 0.4 per cent in April 2023. Price increases were recorded, for instance, for clothing at 1.8 per cent. Energy prices as a whole also went up to 0.7 per cent. Total motor fuel prices climbed by 1.6 per cent, including super-grade petrol at 2.8 per cent, as opposed to diesel fuel at -2.1 per cent. Decreases were observed in the prices of heating oil at -3.1 per cent and natural gas at -0.3 per cent compared with the previous month, Destatis said in a press release.

The prices of goods in total were up by 9.3 per cent in April 2023 on the same month of the previous year. The price increase was particularly pronounced for non-durable consumer goods at 11.4 per cent. The prices of consumer durables rose by 5.9 per cent from April 2022.

Fibre2Fashion News Desk (NB)

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German inflation eases to 7.2% in April 2023: Destatis

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