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Greengrocer in Berlin
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The inflation rate rose to 2.0 percent in April.
This was announced by the Federal Statistical Office on Thursday in an initial estimate.
In March the inflation rate was 1.7 percent.
"The magic two before the decimal point is there," said LBBW economist Jens-Oliver Niklasch on the development.
"That should fuel the inflation discussion further." If the economy picks up noticeably from the second half of the year, as expected, "then it is conceivable that inflation will remain higher for longer than previously thought."
Commerzbank economist Marco Wagner believes it is possible that the inflation rate will temporarily crack the three percent mark - not least because prices were depressed in the second half of 2020 by the temporarily reduced VAT and this effect is then reversed. The economic wise men assume that the inflation rate will rise to 2.1 percent on average for the year, after having been 0.5 percent in 2020.
Energy prices rose by 7.9 percent in April.
One reason for this is the CO2 levy from the climate package that has been in force since the beginning of the year.
In addition, the world market prices for oil are increasing in view of the better global economy.
There is also a so-called base effect: a year ago, energy prices fell sharply due to the severe recession as a result of the first corona wave.
Food prices rose by 1.9 percent compared to April 2020.
The European Central Bank (ECB) is closely monitoring developments in Europe's larger economy, because it is aiming for a value of just under two percent for the monetary union in the medium term.
German inflation calculated according to European standards was 2.1 percent in April.
ssu / Reuters
