German inflation slowed in June

German inflation data comes as a pleasant surprise

According to preliminary data from Destatis published on Wednesday, the rise in consumer prices slowed to 7.6 percent in June this year from 7.9 percent in May. Analysts expected 8 percent inflation for June.

The German consumer price index has been well above the European Central Bank’s (ECB) 2% target since July 2021. (MTI)