Inflation in Saxony weaker in February

Inflation weakened in Saxony in February. Annual inflation is expected to have fallen to 3.0 percent, following the trend of the past two months, according to the State Statistical Office in Kamenz on Thursday. In January, annual inflation was still at 3.5 percent and in December at 4.3 percent. According to the statistics, consumer prices are expected to have risen by 0.3 percent compared to January.

The state office blames the falling trend in annual inflation primarily on the slower rise in prices in the transport sector (1.6 percent), food (0.7 percent) and on the energy market (1.7 percent). Fuels (down 1.7 percent), electricity (down 0.3 percent) and fresh vegetables (down 10.4 percent) cost less than in the previous year, according to the report. Fresh fruit (3.9 percent), on the other hand, was more expensive than in February 2023.

Compared to January, package tours were more expensive (9 percent), while hotels and guesthouses were cheaper (down 2.4 percent), it said. Prices for clothing, shoes, housing, water, electricity, gas as well as furniture, lighting, appliances and household accessories remained constant, according to the statistics.