German inflation fell more than forecast in March, bolstering hopes that the European Central Bank will soon start cutting interest rates as the worst cost of living crisis for a generation subsides.
Consumer prices in Germany rose 2.3 per cent in the year to March, down from 2.7 per cent a month earlier, taking inflation in Europe’s largest economy to the lowest level since June 2021, according to data published on Tuesday. Falling energy and food costs and slower goods inflation offset an acceleration of services prices.
Economists polled by Reuters had forecast a slightly higher reading of 2.4 per cent for March. Core inflation, excluding energy and food, slipped from 3.4 per cent to 3.3 per cent.
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