German inflation soared to a two-year high of 2.7% in March as a result of surging oil prices due to the war in Iran, the Federal Statistical Office said on Monday.
The preliminary figures showed inflation climbing from 1.9% in February to the highest level since the 2.9% recorded in January 2024.
The 2.7% inflation rate is above the 2% target set by both the German Bundesbank and the European Central Bank for price growth.
Energy prices were the main driver of the rising rate of inflation, accelerating by 7.2% compared to March 2025.
Services were 3.2% higher, while food prices rose 0.9%, the data showed.
Month on month, prices rose 1.1% in total, the Wiesbaden-based agency said.
"The rise in inflation in March is only the beginning," said Jörg Krämer, chief economist at Commerzbank. "Higher energy costs will eat their way through the supply chains in the coming months, unless the war ends quickly."
LATEST POSTS
- 1
Ford Is Using a Chinese-Built Van to Fight Europe’s EV Price War - 2The most effective method to Pick A Trade-in vehicle Stage
- 3There was a bit of toilet trouble on NASA's Artemis 2 mission to the moon
- 4Birutė Galdikas: The last of the ‘angels’ in primatology’s most extraordinary chapter
- 5Sixteen Kenyans missing in Russia after army recruitment
- New subclade K flu strain raises concerns: What families should know
- Unsold Rams May Be Less expensive Than You Suspect
- Triple polar vortex to plunge central and eastern U.S. into Arctic cold through mid-December
- Tesla plans to expand production at German car plant
- He walked on the moon in 1972. This is his advice for the Artemis II astronauts.
- Independence from the rat race: How to Save and Contribute Shrewdly
- Flourishing in a Cutthroat Work Market: Vocation Methodologies
- Day to day Temporary Positions That Compensate Fairly in the US
- Find the Wonders of the Silk Street: Following the Antiquated Shipping lanes
