FOREX TradingCharts.com

Financial News: German Inflation Slows For Second Month

German Inflation Slows For Second Month

07/28/2022 - 12:07:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation eased for a second month in a row in July amid an easing in energy price rise, preliminary figures from Destatis showed Thursday.

The consumer price index rose 7.5 percent year-on-year after a 7.6 percent increase in June. Economists had forecast 7.4 percent inflation.

In May, headline inflation hit a record high 7.9 percent.

The harmonized index of consumer prices, or HICP, rose 8.5 percent year-on-year following an 8.2 percent increase in June. Economists had forecast an 8.1 percent increase.

Energy inflation slowed further in July with the rate of increase easing to 35.7 percent from 38.0 percent in June. The rate of energy inflation has been high since the war in Ukraine began and consequently, the supply of Russian gas was interrupted.

On the other hand, food price inflation accelerated to 14.8 percent from 12.7 percent.

Services costs grew 2.0 percent annually after a 2.1 percent increase in the previous month. Rents rose 1.8 percent following a 1.7 percent climb in June.

Compared to the previous month, the CPI rose 0.9 percent in July after a 0.1 percent increase in June.

The EU measure of inflation, HICP, climbed 0.8 percent following a 0.1 percent decline in the previous month.

Economists had forecast a 0.6 percent increase in the CPI and a 0.4 percent rise in the HICP.

Marked price increases at theĀ upstream stages in the economic processĀ have an upward effect on prices, Destatis said. The statistical office attributed the high inflation also to interruptions in supply chains caused by the Covid-19 pandemic. "Special effects such as the impact of the 9-euro ticket and the fuel discount are included in the results," Destatis said. "It is not possible yet on the basis of the provisional results to show the exact extent of these effects."

Destatis is scheduled to release the final and detailed data for July CPI and HICP on August 10.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


European Economics Preview: UK Labor Market Data Due (01 hr(s), 09 min(s), 48 sec(s) ago)
(RTTNews) - Labor market statistics from the UK and economic confidence from Germany are the major ...Full Story»

RBA Sees More Hikes In Process Of Normalizing Monetary Policy: Minutes (01 hr(s), 18 min(s), 48 sec(s) ago)
(RTTNews) - Policymakers of the Reserve Bank of Australia said more interest rate hikes will be ne ...Full Story»

RBA Minutes On Tap For Tuesday (10 min(s), 12 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its monetary po ...Full Story»

Swiss Producer And Import Price Inflation Slows In July (40 min(s), 12 sec(s) ago)
(RTTNews) - Switzerland's producer and import prices increased at a softer pace in July, data ...Full Story»

U.S. Housing Market Index Unexpectedly Drops To Two-Year Low In August (53 min(s), 12 sec(s) ago)
(RTTNews) - A report released by the National Association of Home Builders on Monday unexpectedly ...Full Story»

New York Manufacturing Index Unexpectedly Indicates Contraction In August (09 min(s), 12 sec(s) ago)
(RTTNews) - New York manufacturing activity has unexpectedly seen a substantial contraction in the ...Full Story»

Slovakia Inflation Rises Slightly In July (07 min(s), 12 sec(s) ago)
(RTTNews) - Slovakia's consumer price inflation accelerated marginally in July, but remained a ...Full Story»

New York Manufacturing Index Unexpectedly Turns Negative In August (51 min(s), 12 sec(s) ago)
(RTTNews) - New York manufacturing activity has unexpectedly seen a substantial contraction in the ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

European Economics Preview: UK Labor Market Data Due

08/16/2022 - 01:40 AM (RTTNews)
(RTTNews) - Labor market statistics from the UK and economic confidence from Germany are the major ...Full Story>>

RBA Sees More Hikes In Process Of Normalizing Monetary Policy: Minutes

08/16/2022 - 01:31 AM (RTTNews)
(RTTNews) - Policymakers of the Reserve Bank of Australia said more interest rate hikes will be ne ...Full Story>>

RBA Minutes On Tap For Tuesday

08/15/2022 - 18:00 PM (RTTNews)
(RTTNews) - The Reserve Bank of Australia will on Tuesday release the minutes from its monetary po ...Full Story>>

Swiss Producer And Import Price Inflation Slows In July

08/15/2022 - 12:30 PM (RTTNews)
(RTTNews) - Switzerland's producer and import prices increased at a softer pace in July, data ...Full Story>>

U.S. Housing Market Index Unexpectedly Drops To Two-Year Low In August

08/15/2022 - 10:43 AM (RTTNews)
(RTTNews) - A report released by the National Association of Home Builders on Monday unexpectedly ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.