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rdf:type	schema:NewsArticle
schema:articleBody	Germany's annual inflation rate hit a two-year high in April, preliminary data showed Thursday, fuelled by soaring energy prices and one-off effects linked to the pandemic. Consumer prices in Europe's top economy rose by 2.0 percent year-on-year, Destatis statistics agency said, to reach their highest level since April 2019. Prices rose by 0.7 percent compared with March. German inflation has ticked up steadily since the start of the year, partly because of the introduction of a carbon tax and the end of a six-month sales tax cut aimed at mitigating the economic damage from the pandemic. But the April spike was mainly driven by a nearly eight percent hike in energy prices year-on-year, Destatis said, while food prices were up nearly two percent. Using the European Central Bank's preferred yardstick, the Harmonised Index of Consumer Prices (HICP), German inflation jumped 2.1 percent year-on-year -- overshooting the ECB's inflation target of "close to, but below" 2.0 percent. ECB chief Christine Lagarde has repeatedly said however that higher inflation in the eurozone lately was mostly the result of "temporary factors" linked to the pandemic and would not prompt the bank to tighten its ultra-loose monetary policy anytime soon. But Jens-Oliver Niklasch, economist at LBBW bank, said the April data added to evidence that recent consumer price rises were not just down to one-off ripple effects from the coronavirus crisis. "The magical number of two before the decimal point has arrived, and is likely to further fuel the inflation debate," he said. "Raw material prices are on the rise, driving up import and producer prices. If you add the expectation that the economy will pick up significantly in the second half of 2021, then it is conceivable that inflation will remain higher for longer than previously thought." fcz-mfp/hmn/rl
schema:headline	German inflation jumps to 2.0% in April
schema:mentions	Raw image format European Central Bank Carbon tax Eurozone Sales tax World energy consumption Christine Lagarde Inflation Germany European Union Pandemic Coronavirus Decimal separator Harmonised Index of Consumer Prices Capillary wave Landesbank Baden-Württemberg Hyperinflation in the Weimar Republic Monetary policy Economy
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-29 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	74 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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