World Economy

German Inflation Falls to Zero

German Inflation Falls to ZeroGerman Inflation Falls to Zero

The German statistics office, Destatis, has reported a drop in annual inflation to 0% in February, down from 0.5% in January, and following further declines in energy prices over the winter, DW reported. Destatis inflation report for February cited the continuing sharp decline in crude oil prices as the main reason for the lower rate. It said the inflation rate would have been in positive territory were in not for the oil price slide. Energy prices as a whole were 8.5% lower in February compared with the same time last year. The biggest price increases were recorded in the jewelry and watch sector, up 6.7% last month compared to the same time last year. Some fruits were also notably more expensive than last year recording a 5.8% rise in February. Overall, food prices increased by 0.8%.