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(CEP News) Frankfurt - The Federal Statistics Office (Destatis) announced that German inflation fell 0.2% on a monthly basis in April, as expected and unchanged from their preliminary estimates. German inflation had risen 0.5%.
Annually, German CPI rose 2.4%, also in line with estimates and unchanged from the preliminary estimate, but noticeably lower than March's price rise of 3.1%. "The relatively low year-on-year rate of price increase in April 2008 is due to two special influences: Compared with a year earlier, prices decreased especially for package holidays (−7.4%) and accommodation services (−0.4%). This is mainly attributable to the early Easter holidays in March 2008; in 2007, Eastern was in April (calendar effect)," Destatis said in a press release. "In education, the introduction of tuition fees in some Länder a year ago (April 2007) for the first time did no longer have any influence on the rate of price increase (basis-related effect)." However, Destatis also noted the 4.1% rise in liquid fuel prices observed in April compared to a month earlier, which had put upwards pressure on German CPI. German EU harmonized CPI decreased 0.3% and rose 2.6% on a monthly and yearly basis, respectively, well in line with forecasts. By Todd Wailoo,
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