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Financial News: Germany's Inflation Slows In July

Germany's Inflation Slows In July

07/30/2018 - 08:31:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation slowed to a 3-month low in July, flash estimate from Destatis showed Monday.

The consumer price index advanced 2 percent year-on-year in July, slightly slower than the 2.1 percent rise in June and 2.2 percent increase in May.

Inflation was expected to remain unchanged at 2.1 percent. This was the lowest rate since April, when prices rose 1.6 percent.

Data showed that annual growth in goods prices slowed to 2.4 percent from 2.8 percent. Meanwhile, services cost gained at a slightly faster pace of 1.6 percent after rising 1.5 percent a month ago.

On a monthly basis, consumer prices gained 0.3 percent versus the expected rise of 0.4 percent.

The harmonized index of consumer prices for Germany, which is calculated for European purposes, climbed at a steady pace of 2.1 percent as expected.

Month-on-month, the HICP advanced 0.4 percent, in line with expectations. Final data is due on August 14.

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