BERLIN, April 29 (Xinhua) -- Germany's inflation rate remained at 2.2 percent in April, with price pressure easing slightly, according to preliminary figures published by the Federal Statistical Office on Monday.
Energy prices, which had been falling for months, were down 1.2 percent year-on-year in April, while food prices were reported to have increased by 0.5 percentage points compared to a year earlier. According to the figures, the country experienced the first decline in food prices in March in three years.
As companies increasingly plan to raise prices again, the ifo Institute for Economic Research anticipates no further declines soon. The institute said Monday that the German inflation rate is expected to remain just above 2 percent in the coming months.
The country's central bank Bundesbank said in its report published this month that the inflation rate will likely increase in May, attributed to the recent rise in oil prices and ongoing wage growth.
Germany is anticipating an upturn in consumption this year. "Rising incomes and falling inflation will lead to a noticeable increase in consumers' real purchasing power," reads the government's spring forecast, published last week.
Following an average inflation rate of 5.9 percent in the previous year, the government of Europe's largest economy expects a "significant reduction" to 2.4 percent in 2024.
