German inflation continues to ease

German inflation eased in April, official figures showed on Wednesday, after energy prices cooled.

According to Destatis, the Federal Statistical Office, the consumer price index ticked lower in April year-on-year, to 2.1% from 2.2% in March and 2.3% in February. The print was in line with expectations.

Month-on-month, inflation was 0.4%.

Destatis said energy prices, which fell 5.4% year-on-year, had a “significant” downward effect on the rate.

Motor fuel prices fell 8.3%, while household energy was down 3.4% and heating oil slid 12.8%.

In contrast, food prices rose 2.8%, although that was a slower increase than the 3% seen in March.

Once the more volatile food and energy elements were stripped out, inflation stood at 2.8%.

The annual harmonised index of consumer prices was 2.2%, while the month-on-month rate was 0.5%.

All Eurozone countries use the same methodology to calculate HICP.