Inflation in Germany accelerated slightly in July

In July, consumer prices in Germany rose by 2.3 percent, corresponding to the preliminary value, after the 2.2 percent annual price increase in June. In May, inflation was 2.4 percent.

Compared to the previous month, the consumer price index also rose by 0.3 percent in July, the same as the preliminary value. The monthly price increase in June and May was 0.1 percent.

Commenting on the data published on Friday, Ruth Brand, president of the federal statistical office, Destatis, said that the consumer price index was primarily increased by the above-average rise in the price of services, and the biggest braking force was exerted by the drop in energy prices.

The price of goods rose by 0.9 percent in July on an annual basis, and that of services by 3.9 percent. The price of services has been rising by 3.9 percent annually since May.