skip to main content

Oil jump pushes up German inflation

Inflation in Germany, the euro zone's biggest economy, accelerated sharply in April, reaching its highest level in more than two years as a result of surging oil prices.

Official data showed that the German annual inflation rate was 1.6% in April, compared with 1.1% in March.

It was the highest annual rate of inflation in Germany since March 2002.

'The sharp acceleration in inflation was largely due to the rise in petrol prices,' which rose by 2.9% on a 12-month basis, the Federal Statistics Office said.