In Germany, consumer prices increased by 0.5% in March, which was in line with prelim figures. In February, consumer prices had risen by 0.7%. The annual rate of inflation accelerated from 1.3% to 1.7%, which was also in line with prelim figures.
- The prices of services were up 1.6%, with prices of goods rising by 1.9% when compared with a year earlier.
- Energy product prices were 4.8% higher than a year earlier, with food prices up by 1.6% compared with March 2020.
From France, consumer prices were also on the rise, with the annual rate of inflation picking up from 0.6% to 1.1%, which was in line with prelim figures. Month-on-month, consumer prices rose by 0.6% in March.
According to Insee.fr,
- Year-on-year, service prices ticked up from 0.8% to 1.1%, with deflationary pressures for manufactured goods softening from -0.4% to -0.2%.
In Italy, the annual rate of inflation saw a more modest uptick from 0.6% to 0.8%, which was also in line with prelim figures. Month-on-month, consumer prices increased by 0.6% in March.