As a result of March this year, the inflation rate in Germany, the largest economy in the European Union (EU), slowed sharply. In the first month of spring, this figure fell to 7.8% from 9.3% in February due to falling natural gas stock prices. informs The Bloomberg agency cites data from analysts of the German Federal Statistical Office (Destatis).
“Inflation in Germany has dropped significantly, largely due to falling natural gas prices after its sharp rise after February 2022. Consumer prices in Europe’s largest economy rose 7.8% in March from 9.3% in February.
At the same time, official data on inflation in Germany for March came out higher than analysts surveyed by Bloomberg had predicted. During the study, the majority of respondents agreed that the consumer price increase in Germany in the first month of spring would be 7.5%.
An even greater slowdown in inflation was recorded in Spain. March 30, Bloomberg, based on data from the local Statistical Institute reportedthat the increase in consumer prices in the kingdom in March of this year was only 3.1%. For comparison, this indicator stood at 6% in February. At the same time, core inflation (a long-term trend in the price level) in Spain remains high at 7.5%.