Inflation slowed in Germany and Spain in March as energy prices fell, official data showed Thursday, adding to hopes that the eurozone was past the worst of the price increases

Frankfurt, Germany, (UrduPoint / Pakistan Point News – 30th Mar, 2023 ) :Inflation slowed in Germany and Spain in March as energy prices fell, official data showed Thursday, adding to hopes that the eurozone was past the worst of the price increases.

In Germany, Europe’s biggest economy, price growth eased to 7.

4 percent year-on-year in March, according to preliminary data from Federal statistics agency Destatis.

In January and February, Germany’s inflation rate had held steady at 8.7 percent.

While food prices continued to show “above-average growth” this month, the increase in energy prices had “slowed considerably” compared with March 2022, when Russia’s invasion of Ukraine sent energy costs surging, Destatis said.