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German inflation picks up in April, points to higher euro zone rate

Published 29/04/2014, 13:08

BERLIN (Reuters) - German annual inflation accelerated April, preliminary data showed on Tuesday, potentially pushing up the euro zone figure and reducing pressure on the European Central Bank to act.

Consumer prices harmonised to compare with other European Union countries (HICP) - the measure of inflation used by the European Central Bank - rose by 1.1 percent in Europe's largest economy, data from the statistics office showed. That compared with a 0.9 percent increase in March.

The reading was lower than the 1.3 percent forecast in a Reuters poll and was also well below the ECB's target of just below 2 percent for the euro zone over the medium term.

Annual German inflation on a non-harmonised basis accelerated to 1.3 percent in April from 1.0 percent the previous month. It had been forecast to pick up to 1.4 percent.

Final German price data for April are due to be released on May 14, the office said.

(Reporting by Michelle Martin; Editing by Madeline Chambers)

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