European Central Bank Governing Council member Axel Weber said on Tuesday that surging oil prices were the only significant cause for accelerating annual inflation in Germany. "We have no evidence that other components are having an effect on the price level like that of the oil price. The oil price development is really the only idiosyncratic factor in the price development," Weber told a news conference. Weber added there was no evidence yet of it feeding through to other price levels or wages. The federal statistics office said earlier that German inflation accelerated to 2.1 percent year-on-year in May from 1.6 percent in April and was unchanged at 0.3 percent month-on-month./