Inflation in Germany also slowed down in May

By: Trademagazin Date: 2023. 05. 31. 10:54

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In May, inflation continued to decelerate in Germany, according to data from the Federal Statistical Office (Destatis) on Wednesday.

Based on the agency’s preliminary calculations, consumer prices increased by 6.1 percent in May compared to a year earlier. Inflation in Germany was still 7.2 percent in April, 7.4 percent in March, and 8.7 percent in February and January.

The German business newspaper Handelsblatt highlighted the Destatis report that the increase in prices has slowed down much more than analysts’ expectations. Based on the analysts’ consensus, inflation of 6.5 percent, 0.4 percentage points higher, could be expected.

Compared to a month earlier, consumer prices in Germany fell by 0.1 percent, according to preliminary data. So far this year, prices have risen by 0.4 percent in April, by 0.8 percent in March and February, and by 1 percent in January compared to the previous month.