German inflation slowed in June
In Germany, instead of the expected rise, inflation slowed in June year-on-year, according to the German federal statistical office Destatis.
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)
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