Inflation in Germany stayed high at 2.8 percent in February, largely due to soaring energy costs, official statistics showed Friday.
The Wiesbaden-based Federal Statistics Office said that the high year-on-year rate of price increase was mainly driven by higher prices of household energy and motor fuels, which account for nearly one third of the overall price hike though the share of energy is less than 10 percent of household spending.
Car fuels, for example, rose 11.8 percent compared with a year earlier.
Prices of food and non-alcoholic beverages also went up in February by 7.4 percent on a year-on-year basis.
Compared with the previous month, consumer prices increased by 0.5 percent, mainly due to seasonal price rises for package holidays and hotel services, the statistics office said.
High inflation in Europe's largest economy and the euro zone as a whole is the overriding concern for Frankfurt-based European Central Bank, which decided to leave its key lending rate at a six-year high of 4 percent earlier this month though the euro-zone economy is facing growing downside risks due to the soaring euro and a slowing global economy.
Source: Xinhua
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