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Financial News: Germany's Inflation Rises As Estimated In July

Germany's Inflation Rises As Estimated In July

08/13/2019 - 02:21:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation rose to a 3-month high in July, as estimated, largely driven by food and energy prices, final data from Destatis showed Tuesday.

The consumer price index climbed 1.7 percent year-on-year following a 1.6 percent increase in June. This was the highest since April and the rate came in line with the estimate published on July 30.

Excluding energy, inflation came in at 1.5 percent in July. Energy prices gained 2.4 percent and food prices climbed 2.1 percent.

On a monthly basis, consumer prices rose 0.5 percent, as estimated. Inflation based on the harmonized index of consumer prices, which is meant for EU comparison, slowed to 1.1 percent from 1.5 percent in June. The latest HICP inflation rate was the weakest since November 2016 and matched the flash estimate.

Month-on-month, the HICP advanced 0.4 percent, as estimated in July.

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