April 30, 2019 / 12:21 PM / in 19 days

German inflation accelerates to 2.1 percent in April, exceeding ECB target

FILE PHOTO: People walk through the Mall of Berlin shopping centre during its opening night in Berlin, September 24, 2014. REUTERS/Thomas Peter/File Photo

BERLIN (Reuters) - German annual inflation picked up to 2.1 percent in April, exceeding the European Central Bank’s target level for the first time since November, preliminary data showed on Tuesday.

German consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 2.1 percent year-on-year after an increase of 1.4 percent in the previous month, the Federal Statistics Office said.

That compared with a Reuters forecast of 1.7 percent.

The ECB targets inflation of close to but below 2 percent for the euro zone as a whole.

On the month, EU-harmonised prices rose by 1.0 percent, the preliminary numbers showed. This compared with market expectations for an increase of 0.6 percent.

Reporting by Michelle Martin; Editing by Madeline Chambers

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