Germany’s Consumer Price Index (CPI) stood at 2.2% year-on-year in April, in line with the inflation reading of the previous month, thus repeating the smallest increase in the cost of living since May 2021, according to the second estimate from the Federal Statistical Office (Destatis).

However, the harmonized inflation figure, used by Eurostat in its statistics, accelerated during the fourth month of the year by one tenth compared to the level observed in March, rising to 2.4%.

“The inflation rate has been below 3% since the beginning of the year. In particular, energy and food prices have had a moderating effect on the inflation rate since January 2024,” highlighted Ruth Brand, president of the Federal Statistical Office.

“However, core inflation has been higher than headline inflation since the beginning of the year,” Brand continued.

In April, the cost of energy registered a year-on-year decrease of 1.2%, less than the 2.7% drop in March, while the price of food increased by 0.5%, in contrast to the drop in the 0.7% in March.

Thus, excluding the impact of energy and fresh food from the calculation, Germany’s underlying inflation rate stood at 3%, three tenths below the March figure.