German Purchasing Power Grows at Slowest Rate Since 2013

Germans’ purchasing power increased in the first quarter at its weakest rate in more than three years as inflation accelerated in Europe’s largest economy, data from the Federal Statistics Office showed on Friday.

Real wages climbed by 0.6 percent between January and March compared with the same period last year – their slowest rise since the end of 2013.

Earnings rose by 2.6 percent, a stronger rate than in the previous three quarters, but inflation picked up to 1.9 percent, reaching its highest level since the end of 2012, partly due to the higher cost of petrol and heating oil.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.