German Inflation Picks Up in February

Inflation in Germany, the eurozone's biggest economy, picked up noticeably in February, fuelled by resurgent oil prices, final data showed on Friday. The German consumer price index (CPI) rose by 0.4 percent in February from the figure for January and was 1.8 percent higher than it had been in February 2004, the federal statistics office, Destatis, said in a statement. The 12-month rate of inflation was therefore noticeably higher than the 1.6 percent recorded in January. The main reason for the pick-up were resurgent oil prices, the statisticians explained. Excluding oil prices, CPI would have risen by 1.6 percent year-on-year last month, Destatis said.