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Germany and France Experience Decreased Inflation in March: Food and Energy Prices Drop

In March 2024, inflation rates in Germany and France decreased, primarily due to declining food and energy prices.
Germany's inflation rate was 2.2%, down from 2.5% in February and the lowest since May 2021.

Food inflation saw the first decline since February 2015, dropping to -0.7% from 0.9%, while energy prices fell at a faster rate, to -2.7% from -2.4%.

These decreases have raised hopes that inflation will soon return to the European Central Bank's 2% target.

In March 2023, Germany's goods inflation decreased to 1.0% from 1.8% in February, while services' inflation rose to 3.7% from 3.4%.

Core inflation, which excludes energy and food prices, dropped to a record low of 3.3%.

Month-on-month inflation remained unchanged at 0.4%.

The report has boosted investor confidence that Germany's inflation will soon reach the European Central Bank's 2% target, aiding economic recovery and reducing living costs.

France's March 2024 inflation report came in at 2.3%, the lowest since September 2021.

France's inflation rate decreased from 3.6% in February to 1.9% in March, which is a larger decrease than expected by analysts.

The decrease was mainly due to a drop in food prices from 3.6% to 1.7%, as well as a decrease in energy prices from 4.3% to 3.4%, and services inflation falling from 3.2% to 3%.
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