BERLIN (Reuters) – Inflation in five German states remained broadly unchanged in February, data showed on Wednesday, suggesting that high prices show no signs of easing at the national level.
In North Rhine-Westphalia, Germany’s most populous state, and in Baden-Württemberg, inflation even accelerated by 0.2 percentage points last month, while it came out at the same level as in January in Saxony, Bavaria and Brandenburg.
National level data will be released at 13:00 GMT.
The Reuters survey predicts German inflation, calculated according to European standards, at 9.0% in February over one year after 9.2% in January.
Inflation figures released in France and Spain on Tuesday showed an unexpected acceleration in February, to 7.2% and 6.1% respectively year on year, leading to an upward revision in rate expectations. directors of the European Central Bank (ECB) and a questioning of the scenario according to which a rapid slowdown in price growth is now underway.
Joachim Nagel, the president of the Bundesbank, estimated on Wednesday that significant rate hikes by the ECB could be necessary beyond March, despite the institution’s rate hike since July of 300 basis points.
(Report Miranda Murray; Claude Chendjou, edited by Kate Entringer)
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