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Financial News: Germany Inflation Eases As Estimated In June

Germany Inflation Eases As Estimated In June

07/13/2022 - 03:06:00 (RTTNews)

(RTTNews) - Germany's consumer price inflation moderated in June from a record high in May, as initially estimated, latest figures from Destatis showed on Wednesday.

Consumer price inflation eased to 7.6 percent in June from 7.9 percent in May. That was in line with flash data published on June 29.

Similarly, the EU measure of inflation, or HICP, slowed to 8.2 percent from 8.7 percent in May. The latest figures match preliminary data.

Overall inflation in June was largely driven by a 38.0 percent increase in energy prices, linked to higher fuel prices despite a discount.

Food prices also increased at an above-average pace of 12.7 percent annually in June. Prices of all goods, including energy products and food, grew sharply by 14.0 percent.

On a monthly basis, consumer prices edged up 0.1 percent in June, following a 0.9 percent gain in May, as estimated.

The harmonized index of consumer prices fell 0.1 percent month-on-month in June, in contrast to the 1.1 percent increase in May. These figures also confirmed preliminary estimates.

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