German consumer prices in line in March

German consumer prices rose 0.8% in March from the previous month, in line with the initial estimate and expectations, according to data from Destatis.

Consumer prices were up 0.3% compared with March 2015, having been flat in February, in line with consensus and the initial estimate.

Destatis said the decrease in energy prices, which fell 8.9% on March 2015, had a considerable impact on the overall inflation rate again.

Meanwhile, the fact that Easter fell earlier this year had an upward effect on prices, with package holiday prices up 7.1% on the year.

The harmonised index of consumer prices, which is calculated for European purposes, rose by 0.1% year-on-year in March 2016, while compared with February the index was up 0.8%. This confirmed the HICP estimates on 30 March and was in-line with economists' forecasts.