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Germany Inflation Hits 2.9% as Oil Soars, Core Drops

4/30/2026

33 7 Full Breakdown

Summary

Story summary

Germany's headline inflation rose to 2.9% in April as oil and gas prices jumped 10.1% amid the Iran war.
Core inflation fell to 2.3%, its lowest since June 2021.
The “12 o’clock rule” limiting petrol price changes to once daily failed to curb April fuel inflation.
The Ifo price-expectations index rose to 31.6 in April from 25.5 in March, prompting talk of European Central Bank (ECB) rate hikes in June.

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Story summary

Germany's headline inflation rose to 2.9% in April as oil and gas prices jumped 10.1% amid the Iran war.
Core inflation fell to 2.3%, its lowest since June 2021.
The “12 o’clock rule” limiting petrol price changes to once daily failed to curb April fuel inflation.
The Ifo price-expectations index rose to 31.6 in April from 25.5 in March, prompting talk of European Central Bank (ECB) rate hikes in June.