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German official inflation hits 2.4% in April

Energy prices - German inflation up again
Energy prices - German inflation up again

German inflation reached 2.4% in the 12 months to April, according to a final figure published today by the national statistics office.

'For the third consecutive time the inflation rate was above the 2% threshold,' established by the European Central Bank, following rates of 2.1% in February and March, the Destatis office said.

On a monthly basis, consumer prices rose by 0.2% in April, it added.

Energy prices were again the main factor pushing inflation higher, with an overall gain of 10.5% on a 12-month basis, while the cost of mineral oil products was 15.2% higher, Destatis noted.

A separate statement said wholesale prices also increased further in April, posting a 12-month rate of 9.2% and a monthly rise of 0.2%.

Cereals, seeds and animal feed were considerably more expensive, with a 12-month gain of 71.6%, as were coffee, tea, cocoa and spices, which showed a collective gain of 47.4%.