German inflation picks up in April for first time in 2014Wednesday 14 May 2014 08.21
Inflation in Germany, Europe's biggest economy, accelerated slightly for the first time this year, official final data showed today.
The cost of living rose by 1.3% on a 12-month basis in April, up from 1% in March, the federal statistics office Destatis said in a statement.
"It is the first time this year that a slight pick-up has been observed after the inflation rate slowed during the months of January to March," the statisticians said.
On a monthly basis, the consumer price index (CPI) slipped by 0.2% in April compared with March, the statement said, confirming a preliminary estimate released at the end of last month.
The main factor behind the acceleration in the 12-month inflation rate was rising prices for package holidays, driven by the timing of the Easter break, Destatis explained.
Using the Harmonised Index of Consumer Prices (HICP), the European Central Bank's inflation yardstick, inflation in Germany stood at 1.1% in April compared to a year ago.
The ECB defines price stability as increases in the harmonised index of close to but just below 2%.