2020.04.1606:56:00UTC+00German Inflation Slows As Estimated

German inflation slowed to a four-month low as estimated in March, final data from Destatis showed Thursday.

The consumer price index rose 1.4 percent year-on-year after a 1.7 percent increase in each of the previous two months. The rate came in line with the preliminary estimate released on March 30.

The latest inflation rate was the lowest since November, when it was 1.1 percent.

The slowdown was largely driven by a 0.9 percent fall in energy prices and a 3.4 percent decrease in package tours. Meanwhile, food prices advanced 3.7 percent.

On a monthly basis, consumer prices edged up 0.1 percent in March, as initially estimated, versus a 0.4 percent rise in February.

The harmonized index of consumer prices, or HICP, rose 1.3 percent year-on-year in March after a 1.7 percent increase in February. That was the lowest since November, when it was 1.2 percent.

Month-on-month, the HICP gained 0.1 percent after rising 0.6 percent in February. Both annual and monthly rates matched preliminary estimate.

Another report from Destatis revealed that wholesale prices declined at a faster pace in March. Prices were down 1.5 percent annually in March after the 0.9 percent decrease in February.

On a monthly basis, wholesale prices dropped 0.4 percent.