The lower headline reading is largely due to base effects coming into play, as we saw a big spike in oil prices in March last year amid the Russia-Ukraine conflict. This will be a staple for all inflation readings in the region over the next two days. As for the monthly reading, it still shows an increase of 0.6% after the 1.0% jump in February.
North Rhine Westphalia March CPI +6.9% vs +8.5% y/y prior
- Latest data released by Destatis - 30 March 2023
