German inflation surges to 2.8% in March as Iran war pumps energy prices

(Sharecast News) - German inflation rose sharply in March, driven by a surge in energy prices caused by the US-Israeli war on Iran. Prices jumped to an annual rate of 2.8% from 2% on a harmonised basis with the European Union, according to data published by the federal statistics office.

Energy prices were up for the first time since December 2023, surging 7.2% year on year. Food prices edged up by 0.9% year on year and core inflation, which strips out volatile food and energy prices, remained at 2.5%.

Inflation rose to at least 2.5% in four German states in March, driven by energy price shocks

Reporting by Frank Prenesti for Sharecast.com