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
Muslim Brotherhood stole half a billion dollars in Gaza donations, Arab sources reveal - 2Figure out How to Establish a long term connection with Your Handshake
- 3Ways to track down the Right Criminal Legal counselor
- 4‘Democratizing space’ is more than just adding new players – it comes with questions around sustainability and sovereignty
- 5Step by step instructions to Pick the Right Web-based Degree Program
- Pick Your Number one breakfast food
- The most effective method to Alter Your Savvy Bed for A definitive Rest Insight
- April’s full pink moon will rise in the night sky this week
- New COVID-19 variant 'Cicada' is spreading. What to know about BA.3.2.
- Building an Individual Brand: Illustrations from Forces to be reckoned with
- 75% of Arab Israelis support Arab party joining government coalition post-war, survey reveals
- Hot peppers sent him to the ER. Two years later, a ‘ghost bill’ arrived.
- China Just Got Another Cheap EV America Would Love to Have
- Met Gala 2026 will celebrate fashion as an 'embodied art form': A guide to the theme, dress code, cochairs and hosting committee of the starry event
