German inflation edges up to 2.9% in April
Annual consumer price inflation in Germany rose to 2.9% in April, lifted mainly by higher energy costs. The reading reopened debate over the European Central Bank's path on interest rates.
Germany's federal statistics office Destatis said annual consumer price inflation rose to 2.9% in April, the highest reading since January 2024. Energy inflation jumped sharply year on year and pulled the headline rate higher.
The agency said food price inflation was more moderate while services inflation held broadly steady. Core inflation remains above the European Central Bank's 2% target on an annual basis.
Germany carries the heaviest weight in ECB policy deliberations. Analysts say that if energy-driven pressure proves persistent, the Governing Council could revisit the timetable for further interest rate cuts. Bond markets nudged yields slightly higher after the release.
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