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Financial News: Germany's Inflation Rises Unexpectedly In June

Germany's Inflation Rises Unexpectedly In June

06/29/2020 - 09:32:00 (RTTNews)

(RTTNews) - German inflation rose unexpectedly in June from a 45-month low, preliminary data from Destatis revealed Monday.

Consumer price inflation climbed to 0.9 percent in June from 0.6 percent in May. The rate was expected to remain unchanged at 0.6 percent, which was the lowest since September 2016.

On a monthly basis, consumer prices gained 0.6 percent in June, faster than the expected increase of 0.3 percent and in contrast to May's 0.1 percent fall.

Inflation, based on the harmonized index of consumer prices, advanced to 0.8 percent from 0.5 percent in May. This was slightly faster than the expected rate of 0.6 percent.

Month-on-month, the HICP gained 0.7 percent after remaining unchanged in May. Prices were expected to gain 0.4 percent. Final data is due on July 14.

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