BERLIN, April 13 (Xinhua) -- German inflation rose in March, figures by the Federal Statistical Office showed on Friday.
According to the Wiesbaden-based government statisticians, consumer prices in Germany were 1.6 percent higher in March than in the same period 2017. The federal statistical office hereby confirmed an earlier preliminary estimate.
Although the German inflation rate consequently rose from 1.4 percent in February, it still remained shy of the official goal of "close to, but below" 2 percent set by the European Central Bank (ECB) for the wider eurozone.
The Federal Statistical Office mainly attributed the monthly rise to an increase of food prices, which rose 2.9 percent from last March. Meanwhile, the average cost of package holidays was up 3.2 percent driven by the national Easter holiday.
Energy prices increased by 0.5 percent in the reported month, higher than the February's increase of 0.1 percent. Petroleum and natural gas were 0.7 percent and 1.4 percent cheaper respectively in March 2018 compared to March 2017.
However, several experts anticipate further rises in inflation during the coming months in Germany due to a recent upward trend of crude oil on global markets. The cost for a barrel of Brent North Sea oil rose has risen to above 72 U.S. dollars, hitting a three-year-high.
