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INFLATION

Inflation hits lowest level since 2010

The rate of inflation in Germany, Europe's biggest economy, fell to its lowest level in more than three years in March, official final data showed on Friday.

Published: 11 April 2014 08:08 CEST
Inflation hits lowest level since 2010
Photo: DPA

The cost of living rose by one percent in March, down from 1.2 percent in February, the federal statistics office Destatis said in a statement.

The last time inflation in Europe's biggest economy was lower was in June 2010.

Using the Harmonized Index of Consumer Prices (HICP), the European Central Bank's inflation yardstick, inflation in Germany stood at 0.9 percent in March, down from one percent in February.

The ECB defines price stability as increases in the harmonized index of close to but just below two percent.

The final data confirm a preliminary estimate released at the end of March.

SEE ALSO: Germany economy grows faster than expected

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ECONOMY

Spain’s inflation soars to 29-year high

Spanish inflation accelerated in November to its highest level in nearly three decades on the back of rising food and gas prices, official data showed Monday.

Published: 29 November 2021 13:10 CET
black friday spain
Black Friday sales can't disguise the fact for shoppers that life in Spain is getting increasingly expensive. Photo: GABRIEL BOUYS / AFP

Consumer prices jumped by 5.6 percent, up from a 5.4 percent increase in October, according to preliminary figures from national statistics institute.

That is its fastest pace since September 1992, when the rate was 5.8 percent.

The surge in inflation in the eurozone’s fourth-largest economy was due largely to a spike in food prices, followed by higher gas prices, the statistics office said.

Electricity costs, however, declined slightly after a month-long acceleration, it added.

As in other European Union nations, inflation in Spain has risen since the start of the year after consumer prices declined during most of 2020 due to the economic impact of pandemic lockdowns.

In October, eurozone inflation reached 4.1 percent, well above the European Central Bank’s target of two percent and equal to a high set in July 2008.

But the bank believes eurozone inflation will peak in November and is set to gradually slow next year as supply bottlenecks and the energy crunch ease, board member Isabel Schnabel said earlier this month.

Investors worry central banks will withdraw their stimulus measures sooner than expected to tame inflation.

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