Germany's annual inflation rate stabilized at 8.7% in February

Al-Anbat- Noor Almasri

German inflation steadied at 8.7% in February, in line with expectations.

According to CNBC on Friday, the reading is not far from the peak of 8.8%, recorded in October and November , and remains well above the ECB's two per cent target.

Commodity inflation slowed to 12.4% in February from 12.7% the previous month due to a slight rise in energy costs, partly offsetting a faster rise in food prices .

Meanwhile, the cost of services has accelerated, with rent prices rising by 2%.

Prices of energy products rose sharply, especially natural gas, which jumped 46.6%, electricity, which rose 23.1% and heating oil by 16.1%.