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German inflation rises on travel, energy costs

April 30, 2019

Germany's annual inflation rate has exceeded the 2% target set by the European Central Bank for the first time since November. An economic slowdown and higher travel and energy costs are part of the cause.

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Money and bank statements
Image: picture-alliance/dpa/A. Burgi

According to preliminary data released by Germany's Federal Statistics Office (Destatis) on Tuesday, consumer prices rose by 2.1% year-on-year after an increase of 1.4% in the previous month.

Market analysts had forecast a 1.7% increase.

Eurozone stocks and German bond yields rose after the data was released.

Inflation in the eurozone is expected to fall over the course of the year, due to a slowdown in global growth and a rise in energy prices.

Economists expect annual eurozone inflation to rise to 1.6% when figures are announced on Friday.

jm/js (Reuters, AFP)

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