According to preliminary data released on Wednesday, German inflation stabilized in February as government support programs helped maintain a lid on high energy prices.
German federal statistics office Destatis reported that the country’s annual inflation rate remained steady at 8.7%, the same amount as in January.
According to Destatis, February saw “above average growth” in food costs but “slight easement” in energy prices.
Overall, inflation is still high and well above the European Central Bank’s goal rate of 2%.
Other statistics this week indicated that price pressures are also continuing to be a problem in other important eurozone economies.
France’s inflation increased in February to 6.2%, driven by higher costs for goods and services.
Spain’s consumer price rise increased for the second consecutive month, climbing to 6.1%.
Following a decline to 8.6% in January, Eurostat will release its February inflation statistics for the 20-nation eurozone on Thursday.
As part of a routine review of the consumer price basket, Destatis recently changed the method it determines the inflation rate in Germany, the largest economy in Europe.
