German inflation rises to 2.1% in April, above ECB target

Germany's annual inflation rate has exceeded the 2% target set by the European Central Bank for the first time since November. An economic slowdown and higher travel and energy costs are part of the cause.

According to preliminary data released by Germany's Federal Statistics Office (Destatis) on Tuesday, consumer prices rose by 2.1% year-on-year after an increase of 1.4% in the previous month.

Market analysts had forecast a 1.7% increase.

Eurozone stocks and German bond yields rose after the data was released.

Inflation in the eurozone is expected to fall over the course of the year, due to a slowdown in global growth and a rise in energy prices.

Economists expect annual eurozone inflation to rise to 1.6% when figures are announced on Friday.

jm/js (Reuters, AFP)

Every evening, DW sends out a selection of the day's news and features. Sign up here.

Related content

Related Subjects