Singapore: German inflation soared to a two-year high of 2.7% in March as a result of surging oil prices, the Federal Statistical Office said on Monday. The preliminary figures showed inflation climbing from 1.9% in February to the highest level since the 2.9% recorded in January 2024.

According to Qatar News Agency, the 2.7% inflation rate is above the 2% target set by both the German Bundesbank and the European Central Bank for price growth. Energy prices were the main driver of the rising rate of inflation, accelerating by 7.2% compared to March 2025.