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German Consumer Prices Rise in April, Beating Forecasts

04/29/2021 | 06:20am

By Maria Martinez

German consumer prices rose in April beating expectations, according to preliminary data released by the German statistics office Destatis on Thursday.

On a year-on-year basis, consumer prices rose 2.0% measured by national standards. Economists polled by The Wall Street Journal expected a 1.8% increase.

Consumer prices rose 2.1% on year by European Union-harmonized standards, above the forecast of a 1.9% increase of economists polled by The Wall Street Journal.

Consumer prices rose 0.7% on month by national standards and 0.5% by EU-harmonized standards. Economists polled by The Wall Street Journal had forecast that prices would rise 0.5% by national standards and 0.3% by EU-harmonized standards on month.

The coronavirus pandemic and its related restrictions caused pricing collection problems again in April as some products weren't available in the market, Destatis said.

Final results will be released on May 12.

Write to Maria Martinez at maria.martinez@wsj.com

(END) Dow Jones Newswires

04-29-21 0820ET

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