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German inflation unexpectedly accelerated to 9.3% in February


March, 01 2023
watermark Economic news

According to the German Federal Statistical Office Destatis, consumer prices in the country, harmonized with EU standards, increased by 9.3% in annual terms in February. Thus, the rate of inflation accelerated compared to 9.2% in January. Analysts on average predicted a slowdown in inflation last month to 9%.


On a monthly basis, consumer prices in February increased by 1% compared to January – the highest pace in 4 months. Experts had expected a 0.7% increase after a 0.5% increase in January.


Consumer prices calculated only according to German standards increased by 8.7% in annual terms and by 0.8% on a monthly basis. In January, their growth was 8.7% and 1%, respectively.


In particular, the cost of energy in Germany has increased by 19.1%, and products have risen in price by 21.8%. Goods in general increased in price by 12.4%, the cost of services increased by 4.7%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.