Germany’s CPI inflation rates for March were confirmed at 0.3% MoM and 2.2% YoY, down from 2.3% YoY in February.

• Core inflation was 0.6% MoM and, on an annual basis, was revised up slightly, from the initial estimate of 2.5% YoY to 2.6% YoY.
• Services inflation was also revised up slightly, from the initial estimate of 3.4% YoY to 3.5% YoY.
• HICP inflation was confirmed at 0.4% MoM and 2.3% YoY, easing from 2.6% YoY in February.
• Month-on-month price increases were observed for clothing (+4.3% MoM) and package holidays (+3.1% MoM) mainly due to seasonal factors.