Food prices also rose considerably, as well as prices for services which were especially affected by protective measures. In other words, prices saw upward pressure across the board over the past few months. Given the surge in energy prices on account of the war, consumer price inflation is likely to pick up again substantially, particularly in the near term.
According  to  their  latest  projections  published  on  10  March,  ECB (European Central Bank) economists are now expecting an inflation rate of 5.1% this year as measured by the Harmonised Index of Consumer Prices. The Bundesbank believes this figure could be similarly high in Germany on an annual average.