Financial News: German Inflation Remains Stable At 2.0% As Estimated

German Inflation Remains Stable At 2.0% As Estimated

(RTTNews) - Germany's consumer price inflation remained stable in July, as initially estimated, data from Destatis showed on Wednesday.

The consumer price index logged an annual increase of 2.0 percent in July, the same rate of rise as seen in June and matched the estimate published on July 31.

"The rate of inflation has stabilised since the start of the year and remained unchanged again for two consecutive months," Destatis President Ruth Brand said.

Inflation based on the harmonized index of consumer prices slowed to 1.8 percent, as estimated, from 2.0 percent in June.

Core inflation excluding food and energy, was unchanged at 2.7 percent, in line with the initial estimate.

Energy prices continued to drop and have a downward effect on overall inflation. Meanwhile, the increase in service prices remained above average and pushed up inflation.

Energy prices were down 3.4 percent from the last year, food prices advanced 2.2 percent. Although services inflation softened to 3.1 percent from 3.3 percent, it remained high.

On a monthly basis, consumer prices moved up 0.3 percent after remaining flat in June. The HICP posted a 0.4 percent rise, following a 0.1 percent increase in June. Monthly rates matched initial estimates.

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