German inflation creeps higher in April: data

29th April 2015, Comments 0 comments

Inflation in Germany, Europe's biggest economy, crept higher in April with consumer prices rising by 0.4 percent year-on-year, preliminary data showed on Wednesday.

The previous month, the consumer price index had risen by 0.3 percent on a 12-month basis, the federal statistics office Destatis said in a statement.

Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany rose by 0.3 percent percent year-on-year in April, still way under the ECB's annual inflation target of just below two percent.

The April data are still only preliminary, since they are based on consumer price statistics from only six out of Germany's 16 regional states.

Final data from all 16 states will be published on May 13, Destatis said.

The data nevertheless appear to confirm that the ECB's monetary policy measures are slowly beginning to push up inflation.

In March, the ECB embarked on a massive trillion euro ($1.1 trillon) bond purchase programme to ward off deflation and end stagnation in the eurozone economy.

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© 2015 AFP

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