Berlin, Germany (4E) – Germany’s inflation rate declined to its lowest level in over three years in March, according to government data released Friday.
The cost of living in Europe’s largest economy climbed by 1.0 percent in March from the previous year, lower than 1.2 percent in February, according to statistics office Destatis said in a statement.
The last time Germany saw a lower inflation rate was in June 2010.
German inflation using the Harmonized Index of Consumer Prices or HICP, the European Central Bank’s (ECB) preferred measure for inflation, stood at 0.9 percent in March, compared with 1.0 percent in February. Price stability is defined by the ECB as close to but below 2.0 percent gain in the harmonized index.
Friday’s final data confirm an initial estimate released at the end of March.