German official inflation hits 2.4% in April

11th May 2011, Comments 0 comments

German inflation reached 2.4 percent in the 12 months to April, according to a final figure published Wednesday by the national statistics office.

"For the third consecutive time the inflation rate was above the two-percent threshold," established by the European Central Bank, following rates of 2.1 percent in February and March, the Destatis office said.

On a monthly basis, consumer prices rose by 0.2 percent in April, it added.

Energy prices were again the main factor pushing inflation higher, with an overall gain of 10.5 percent on a 12-month basis, while the cost of mineral oil products was 15.2 percent higher, Destatis noted.

A separate statement said wholesale prices also increased further in April, posting a 12-month rate of 9.2 percent and a monthly rise of 0.2 percent.

Cereals, seeds and animal feed were considerably more expensive, with a 12-month gain of 71.6 percent, as were coffee, tea, cocoa and spices, which showed a collective gain of 47.4 percent.

© 2011 AFP

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