Consumer prices in Germany fell in July

By: Trademagazin editor Date: 2020. 08. 13. 11:02

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Consumer prices in Germany fell 0.1 percent on an annual basis in July. The annual consumer price index fell for the first time since April 2016, according to a Thursday report by the German Federal Statistical Office, Destatis.

The annual decline in commodity prices in July was 1.4 percent, largely due to a reduction in VAT, which also exacerbated the decline in energy prices, despite the fact that world oil prices increased in July.