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German consumer prices data rebounds in February

German consumer prices data rebounds in February

Consumer prices recovered in Germany in February, up 0.1 per cent on February 2014, as the country showed signs of a recovery from dismal figures in January.

The consumer price index (CPI) rose 0.9 per cent in February this year compared to the previous month, according to the latest figures from Destatis.

Energy prices climbed 2.1 per cent in the month, with German consumers having to pay more for both heating oil and motor fuel.

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Destatis attributed the low inflation rate in February 2015 to continuing strong downward price trends for mineral oil products, compared to a year ago, with the price of energy as a whole down 7.3 per cent on a year earlier.

The harmonised index of consumer prices for Germany, which is used by the European Central Bank, fell by 0.1 per cent in February on February 2014, while the index was up 1 per cent on the previous month.