Higher energy prices continue to push Germany's inflation up

Higher energy prices, related to ongoing tensions in the Middle East, continue to push consumer prices in Germany up, official figures showed on Wednesday.

The country's annual inflation rate was at 2.9% in April, up from 2.7% in March, federal statistical office Destatis' stated.

Energy prices soared by 10.1% in the month, "the largest increase in energy prices since February 2023 (+19.1% on February 2022)."

The inflation rate excluding food and energy, or core inflation, was at 2.3% in April in Germany.