The monthly harmonized CPI also slowed sharply to 0.6%, from a rise of 1.1% in March.
The Harmonized Consumer Price Index measures inflation data in the same way as the European Union.
German Economy Minister Robert Habeck had confirmed in previous statements that Germany’s inflation rate has passed the peak stage, and is expected to decline gradually as energy price hikes come down. .
Habeck said inflation in Germany in April was the lowest in eight months.
He added that this slowdown reflects the decline in the rate of increase in energy prices, which has been the main driver of inflation in recent months, and he expects this downward trend to continue. inflation in the coming period.
The German government expects the inflation rate to fall to 5.9% at the end of 2023 and to 2.7% at the end of 2024.
And the member of the Executive Council of the European Central Bank, Isabelle Schnabel, had stressed on Tuesday that the dynamics of inflation are still high for all components except energy.
“There is no doubt that the ECB will have to take additional measures to bring inflation back to the 2% target, as eurozone inflation has started to decline, but core inflation has picked up. proven to be well established,” she said.
Schnabel urged policymakers to act aggressively to rein in high inflation, warning against any backsliding at the first sign that upward pressures on prices may be easing.
Read the Latest World News Today on The Eastern Herald.
