Inflation in Germany eased in July
Inflation moderated in Germany in July, based on Tuesday’s report based on final data from the German Federal Statistical Office, Destatis. The engine of inflation is still primarily the rise in food prices.
According to preliminary data, inflation in Germany was 6.2 percent based on the consumer price index compared to a year earlier, lower than the previous month’s 6.4 percent. Compared to the previous month, consumer prices rose by 0.3 percent in July, after a monthly price increase of 0.3 percent in June.
The harmonized consumer price index, HICP, calculated for EU comparison purposes, was 6.5 percent on an annual basis in July, the same as the preliminary data, also based on the final calculation, lower than June’s 6.8 percent. On a monthly basis, the HICP decreased by 0.5 percent in July, according to preliminary data, after the 0.4 percent monthly decrease in June.
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